Finance Minister Miftah Ismail Monday said there is no need to declare a financial emergency, reported 24NewsHD TV channel.

Taking to his Twitter account, Miftah went on to say that Prime Minister Shehbaz Sharif will announce the austerity measures, adding that there is no economic emergency in the country.

Miftah Ismail said the country has come out of a financial emergency after two increases in price of petroleum (POL) products.

https://twitter.com/MiftahIsmail/status/1533757501346557954

Miftah said the government has no plans to freeze the foreign currency accounts or Roshan Digital accounts or take over people private lockers. 

Miftah said: "We have never even contemplated these steps. Nor will we ever do it."

He further said the speculation on social media about this is wrong and coming from biased quarters.

https://twitter.com/MiftahIsmail/status/1533758337799827456

Reporter: Waqas Azeem