ISLAMABAD: Finance Minister Asad Umar has claimed to reduce the currentaccount deficit by $6 billion.
Umar said Pakistan is in no rush to sign a deal with International MonetaryFund (IMF) to resolve its balance-of-payments issue,* Radio Pakistan* reported.
In an interview with Saudi daily Arab News, the minister said “I have nourgency right now to get into an IMF program. We are in discussions [withthe IMF]. When we reach the (outlines) of a program which we believe is inthe best interests of Pakistan’s economy, we’ll go ahead and sign that.”
He added that financial assistance from friendly countries would helpcushion Pakistan’s economy over the remaining current financial year. “Therecent support has resulted in a current account deficit of $6-7 billionless than the previous financial year,” Asad claimed.
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Responding to a question regarding reviewing agreements related to theChina-Pakistan Economic Corridor (CPEC) program, Asad said it was not offthe table.
“The IMF had a lot of questions. The Americans had a lot of questionsaround CPEC. There are a few other projects in the area of the industrialcooperation framework that is being finalised,” Asad shared.
