IMF mission chief to meet Asad Umar today

ISLAMABAD (92 News) – The officials of Pakistan and the International Monetary Fund (IMF) will hold crucial talks for a bailout package as the IMF mission chief is due to land in Islamabad on Monday night. According to the reports, the IMF mission chief Ernesto Ramirez Rigo will meet Finance Minister Asad Umar on Tuesday (March 26). The IMF chief will also meet with a team of State Bank of Pakistan to get a briefing on the economic condition of the country.

Asad Umar says talks with IMF entered in final stage

Earlier, Speaking to the journalists, Finance Minister Asad Umar had said that talks with the IMF had entered in final stage. The minister also said that hopefully, IMF will soften its conditions for the bailout package to Pakistan. “Pakistan has come closer to reaching an agreement with the IMF as the differences have decreased between Pakistan and the IMF over a possible bailout package,” Asad Umar said. Umar, said that the government would further negotiate with the newly appointed IMF mission chief before reaching to an agreement. The new IMF Mission chief for Pakistan would hold important meetings with the officials of finance ministry and State Bank of Pakistan to finalize an agreement, the minister had said. Ernesto Ramirez Rigo has replaced Herald Finger, the previous mission chief of IMF for Pakistan. https://www.youtube.com/watch?v=fH88Wlt1tSA

Govt to stop tax evasion through modern technology

Asad Umar warned that tax evaders won’t be spared and said the government is applying IT solutions to check tax evasion and bring reforms in the institution. He said the government will chase down tax evaders. “It is taking help from technology to bring more people into the tax net. A tracking system for tax evaders is in the works,” he added.

Fiscal deficit created by previous government

The finance minister said that the fiscal deficit created by previous government was the major reason behind the rise in the inflation rate. He admitted that the federal government felt difficulties of its nationals due to inflation hike but it did happen when steps have been taken to remove bigger deficits.