Pakistan has decided principle to start IMF mission: Asad Umar

WASHINGTON (92 News) – Minister for Finance Asad Umar said that Pakistan has decided in principle to start IMF mission and the decision has been taken in the best interest of national economy. Speaking to the journalists in US, the minister said that the programme with the International Monetary Fund (IMF) would soon be completed for Pakistan.

Govt is working on structural changes in economy

Asad Umar also said that the government is working on structural changes in the economy. He also said IMF program will bring improvement in the economy. He said IMF delegation will visit Pakistan in coming weeks to finalize technical details.

Trade activities in region to improve living standard of people

To a question, the minister said trade activities in the region will improve living standard of the people. He said Prime Minister Imran Khan expressed his desire to improve relations with India in his first speech and offered to enhance trade relations.

Free Trade Agreement with Turkey to be concluded soon

The finance minister said gas agreement with Turkmenistan has been signed while Free Trade Agreement (FTA) with Turkey will be concluded soon. He said Pakistan has been facing a crisis of balance of payments for a long time.

Govt approaches IMF due to PML-N, PPP

“We went to the IMF due to some previous wrong decisions. He said the Pakistan Muslim League-N (PML-N) and the Pakistan Peoples’ Party (PPP governments also sought IMF programs. The finance minister’s delegation includes State Bank of Pakistan (SBP) Governor Tariq Bajwa, Finance Secretary Younas Dagha, Economic Affairs Division Secretary Noor Ahmed and others. The delegation reached the US capital on Tuesday evening and is expected to stay for two days. On the sidelines of the meetings, the finance minister also met with the new World Bank President David Malpass and apprised him of the macroeconomic situation in the country and discussed continuation of Pakistan’s ongoing engagement with the Bank. Malpass appreciated the reform process in the country and assured continued World Bank support. Asad Umer also met with the First Deputy Managing Director of IMF David Lipton and talked about the ongoing negotiations with the IMF. The finance minister had a business round-table with members of the US Pakistan Business Council. The business council expressed their strong interest in Pakistan’s market and shared their future plans as well as issues where they needed support from the government. Talking to the business council, Asad Umer said the present government is completely focused on improving the ease of doing business in Pakistan. He further said Prime Minister Imran Khan is personally monitoring the reform process in this regard. The delegation discussed various economic and development projects with the World Bank president, as well as with the Executive Director and Deputy Managing Director of the IMF.