ISLAMABAD – Minister for Finance Asad Umar Monday said Pakistan andInternational Monetary Fund (IMF) have reached at consensus on alloutstanding issues to finalize the bailout package.
While briefing the National Assembly’s Committee on Finance, Revenue andEconomic Affair here, he informed that the government expected that the IMFbailout package would give around US$ 6 to 8 billion.
The Committee was presided over by its Chairman Faizullah Kamoka.Asad Umar said that that IMF would finalize the bailout package forPakistan during a visit of an IMF team due in Pakistan later this month.He said during his recent visit to Washington DC, the both sides wereagreed in principle to finalize bailout package agreement.
Asad Umer said that there were not any guidelines and demands from IMF forany duties on electricity and gas.He said that government has no plan to increase the prices of electricityand gas in coming days.
He said “We would share full details and draft of the negotiation with IMF,to the committee for more proposals and guidelines from members andproposed that a sub- committee should be formed in this regard.
After the meeting, while talking to the media person, he said that IMFdelegation would visit Pakistan by last week of April to further negotiateon bailout package.
He expect that after the successful negotiation with IMF, Pakistan wouldfurther get way out for more financial assistances from the World Bank ,Asian Development Bank and big investors in United States.
He added that besides meeting with IMF, he also had meeting with differentinvestors in Washington to open more avenues for economic stability andgrowth.
He said that IMF bailout package would give stability to foreign reservesand enhance the confidence of international financial institution.
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He said that “we are facing the worst form of Balance of Payment crisisin our economic history, which is because of bad economic policies of pastPML-N government”.
Asad Umer believed that after the bailout package from IMF, our economywould get stability and would move towards sustainable economic growth.Umar said he met with Financial Action Task Force (FATF) President MarshallBillingslea during the US visit, who assured him that any decision would betaken on technical grounds.
Pakistan will send a draft detailing its implementation on FATF’srecommendations by today, he said.A delegation of FATF will visit Pakistan in the third week of May to reviewthe implementation efforts.
Asad said, he also meet to meet Prime Minister Imran Khan and take him intoconfidence regarding the recent IMF bailout package talks.
While briefing the committee State Minister for revenue, Hammad Azher saidthe priority of the government was to broaden the tax net for increasingthe revenues.
MNA Dr. Aisha Ghaus Pasha, Dr Ramesh Kumar Vankwani, Ali Pervaiz andRepresentative of Pakistan Federation Chamber of Commerce and official fromMinistry of Finance also attended the meeting.
