Moody’s rating downgrade rings bell of default Says Sheikh Rashid

By Muhammad JuniadPublished On 01 Mar 2023

ISLAMABAD: The head of Awami Muslim League (AML) Sheikh Rashid has said that by downgrading Pakistan’s rating, the international rating agency Moody’s has actually rung the ‘bell of default’ for Pakistan.

Talking to newsmen on his arrival at Supreme Court, which is to announce verdict regarding delay in elections in Punjab and KP after dissolution of provincial assemblies in both the provinces, Sheikh Rashid said Pakistan was becoming a ‘death zone’ and like a bigger jail for the poor class of the society as some were dying of hunger on road, and some in sea (by committing suicide).

Sheikh Rashid further said the present government did nothing during their ten months in power except for getting quashed their cases, and that the country was slipping back into the circumstances of 1998 (when Pakistan was strangled with sanctions after nuclear explosions).