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Govt to sign people-friendly agreement with IMF: Asad Umar

ISLAMABAD: Minister of Finance and Revenue Asad Umar Friday said the government would sign such an agreement with International Monetary Fund (IMF) that would be in the national interest.
Speaking in the National Assembly, he said the government was not under pressure or in hurry for signing an accord with IMF as alternative arrangements had been made to address immediate economic needs of the country.
The minister said the government would not make such a decision which would increase worries of the people.
He made it clear that the government would only sign such an IMF package which would be in the larger interest of the country’s economy and the people.
He said Pakistan had already signed an economic assistance package with Saudi Arabia while talks with other friendly countries were underway.
Asad Umar said 15.50 percent increase had been witnessed in the remittances during the first month of the present government while 20 percent in the second.
He said the overseas Pakistanis had sent additional one billion dollars to Pakistan during three months period.
About the prices of petroleum, the finance minister said they had, substantially, reduced taxes on the diesel (five times lower) as compared to the previous government.
He urged the opposition not to do politics on China Pakistan Economic Corridor as it would not augur well for the country.
He said the government was taking steps for strengthening the economy of the country and making efforts to reduce current account and budget deficit.
The minister said the budget deficit was 4.1 percent during last year but after general election, the deficit
of the budget was now 6.6 percent which was Rs900 billion.

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