ISLAMABAD – Pakistan has decided to seek $9 billion bailout package fromInternational Monetary Fund.
Finance Minister Asad Umar on Monday said that the government has decidedto start negotiations with International Monetary Fund (IMF) forstabilization and recovery of national economy.
In a video statement released on Monday, he said the government inheritedloans worth billions of rupees, which needs to be managed.
The minister said that difficult decisions the government has to take willhelp stand the national economy on its feet.
Asad Umer went on to say that the government wants to create such anenvironment where the cycle of going to international financialinstitutions is not repeated by successive governments.
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He said that efforts are afoot to protect the interests of lower incomesegments of society.
Earlier on Sunday, a team headed by Finance Minister Asad Umar met PrimeMinister Imran Khan in Islamabad and briefed the latter on a potential ninebillion dollars bailout package.
Previously, an IMF mission led by Harald Finger had visited Pakistan andmet key stakeholders within the government. It also held a wrap up meetingwith Finance Minister Asad Umar and his team, sharing its initialassessment of the economy.
