Finance Ministry clarifies media reports over New IMF condition

Shares
Finance Ministry clarifies media reports over New IMF condition

ISLAMABAD - Ministry of Finance Thursday contradicted a news report published in a section of the press claiming that International Monetary Fund (IMF) has barred Pakistan from extending sovereign guarantees till December Review.

In a statement, Finance Division has termed the report and its headline as false and contradictory to an official response provided to the newspaper in advance of the published report.

The ministry has maintained that the concerned reporter who has filed the story had approached the Spokesperson Finance Division Omar Hamid Khan and sent a question on whatsapp.

The reporter asked why the “Finance Ministry is not extending the sovereign guarantees against Rs 200 billion loan to be borrowed from Islamic banks to reduce the circular debt”.

In response, Finance Division Spokesperson Omar Hamid Khan clearly told the reporter in a written reply that “In order to ensure fiscal discipline and debt sustainability, the government has developed a policy framework which has also been agreed as part of the Extended Fund Facility provided by IMF.