*ISLAMABAD: Advisor to Prime Minister on Finance Abdul Hafeez Shaikh has* saidthere was an annual current account deficit of over $19 billion, which theincumbent government brought down to $13.5 billion.
*He has further rejected reports that the government has reached anagreement with the International Monetary Fund (IMF) on exchange rate.*
“There is no agreement with the IMF about fixing the exchange rate at acertain level,” he stated in clear terms while speaking in an interview toARY News alongside Prime Minister Imran Khan and Federal Board of Revenue(FBR) Chairman Syed Shabbar Zaidi.
He said the government imposed taxes on luxury items to cut down on thecountry’s import bill, adding sales tax on import of raw material has beenabolished.
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The advisor said the export-orientated sector is being provided subsidy ongas and electricity to boost exports.
He said the country’s exports have been witnessing an increase, details ofwhich would be disclosed soon.
