*ISLAMABAD: Minister for Finance Asad Umar has said an IMF bailout packagewas unavoidable for Pakistan, which, according to economic experts, was theonly way to put the national economy back on track.*
Talking to the state-run TV channel, the minister said the government hadto take the decision to approach the International Monetary Fund (IMF)because of the high current account deficit as a result of the wrongeconomic policies adopted by the past government.
Referring to his meetings with the IMF officials in Indonesia, he said boththe sides had expressed the desire that it might be the last bailoutpackage for Pakistan.
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He said,“We have sought the package only to get relief for the time beingand run the country’s economic system smoothly.” Meanwhile, the governmenthad planned to improve its capacity by gradually reducing trade deficit,increasing exports, increasing foreign remittances, improving tax revenues,and introducing other revenue generation measures to avoid the IMF packagesin future, he added.
