Minister for Finance Miftah Ismail says the government has saved the country from default and it has been put on the track of economic stability.

Addressing a news conference in Islamabad on Saturday alongside Minister for Information and Broadcasting Marriyum Aurangzeb, he said poor tax collection and unplanned policies during PTI's four year tenure led to budget deficit and economic crisis in the country.

He said we will increase our tax collection up to 7400 billion rupees to 7500 billion rupees.

Miftah Ismail vowed to reduce inflation, increase the country's foreign exchange reserves and end load-shedding by next year.

The Finance Minister said strict adherence to fiscal and financial discipline is vital to put the economy on sustainable and fast track development.

About the depreciation of Pak-Rupee against greenback, the Minister expressed the hope that it would strengthen soon after the finalization of agreement with International Monetary Fund.

He said that it is also expected to receive about 6 billion dollars by the multi-lateral lending institutions including Asian development bank, World Bank and Asian Infrastructure Development Bank.

Source: Radio Pakistan