*ISLAMABAD – The newly formed Economic Advisory Council has advised thefederal government to utilise the IMF bailout package for stabilising theeconomy.*
*The government will be seeking a** bailout package from the InternationalMonetary Fund.*
Prime Minister Imran Khan has given a green signal to obtain an IMF bailoutpackage, media has reported.
The decision was taken after the consultation with the Economic AdvisoryCouncil. Asad Umar, the finance minister, said that the government willhave to take tough decisions to fix the economy.
“We have no other option but to go to the IMF,” Mr Umar said. “We will haveto take a loan to support falling economy.”
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Umar said the main purpose of the talks will be a “stabilisation recoveryprogramme” to control the country’s economic crisis. However, he did notspecify the amount Pakistan would seek.
Umar is expected to meet the officials of the World Bank and IMF duringtheir annual meeting at Indonesia on Tuesday.
