ISLAMABAD – Pakistan will not approach the IMF for a new bailout packageand is considering alternative options to tide over its economic crisis,Finance Minister Asad Umar said Saturday.
Minister Umar made the remarks during a meeting with businessmen at theKarachi Chamber of Commence and Industry (KCCI).
Umar told the participants that the Imran Khan led government had decidedagainst entering into any new bailout programme with the InternationalMonetary Fund (IMF) for now and was exploring other possible avenues tohelp Pakistan’s struggling economy get back on track.
Pakistan is negotiating a USD 8 billion bailout package from the IMF toovercome a severe balance-of-payments crisis that threatens to cripple thecountry’s economy.
The government reached out to some “friendly countries” for economicassistance including Saudi Arabia, China and the UAE since Prime MinisterKhan assumed office in August.
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Umar said different alternative options were being explored instead ofrushing into a new IMF programme which would bring more stringent economicconditions for Pakistan.
He told the Karachi businessmen that the government would be announcing amini-budget on January 23.
