Strict conditions by IMF over bailout package: Finance Minister responds to media reports

Strict conditions by IMF over bailout package: Finance Minister responds to media reports
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*ISLAMABAD - Finance Minister Asad Umar has responded over the reports of strict conditions placed by IMF against the bailout package for Pakistan.*

*He has said that Pakistan will not make any compromise on any non-economic issue if the US-based lender sets conditions.*

“We will not seek any bailout if we have to compromise on any non-economic issue, however, I want to make it clear that IMF and others have not demanded anything like this yet,” Umar said when questioned about conditions set by IMF , in an interview to a private news channel.

The finance minister was of the view that Pakistan would face more problems, if the government doesn’t approach the IMF , as the country will lose backing in the ‘international system.’

“During my talks with IMF’s managing director [Christine Lagarde], I said that we want to protect the basic points of our manifesto, as well as we want to protect those people who will face the burden of inflation,” said Umar. He added that in order to protect the local man, ‘we would need to invest and change our priorities’.

The federal minister blamed the previous government of Pakistan Muslim League – Nawaz over the current economic woes. The incumbent government was introducing other revenue generation measures to avoid the IMF packages in future, he informed.

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