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Govt to sign agreement with IMF in case of any attractive program: Asad

Govt to sign agreement with IMF in case of any attractive program: Asad
January 10, 2019
ISLAMABAD (92 News) – Minister for Finance Asad Umar has said that the government is in touch with the International Monetary Fund (IMF) and agreement with it will be signed in case of any attractive program. In an interview with TV anchorperson on Thursday, Asad Umar said that the supplementary finance bill will not impose tax on the daily usage products; however, this bill will enhance only 10 per cent income from tax. The finance minister also said that in the supplementary finance bill, important recommendations have been made to promote investments and exports. Asad Umar explained that the incumbent government is focusing on alternative means to achieve funds to strengthen the economy. He also said concrete measures are also being taken to attract foreign investment in the country. The minister said that the gap in the payments and foreign reserves has been covered up. He further said that the IMF has not placed any non-financial condition and it is just an option to revive the economy. The finance minister said that the raise in power and gas tariff is applicable for the affluent and not the underprivileged of the society. Earlier, Finance Minister Asad Umar said that Pakistan can survive without a bailout package from the IMF for more time. In an interview with 92 News programme, the finance minister clarified, “The government is not in hurry to deal for IMF package because the capacity created so much that the gun on the head has been removed. We aren’t in hurry. We are covered even if it delays for more time.” Asad Umar explained that the State Bank of Pakistan has $8 billion foreign reserves which would fulfill to bridge the $12 billion financial gap caused by a balance of payments crisis. “Our policy will make State Bank of Pakistan and other institutions as independent. The governor of state bank can be removed in case of a mistake in the appointment or corruption,” the finance minister mentioned.