ISLAMABAD – Finance Minister Asad Umar has revealed that no decision hasbeen taken to approach IMF over Pakistan’s biggest challenge of depletingforeign exchange reserves.
He said the most pressing challenge facing Pakistan was the country’sdepleting foreign exchange reserves.
“We are facing a $2 billion deficit monthly for the last four months in theforeign exchange account. This is the immediate challenge,” Umar toldreporters.
Pakistan had loans worth $94 billion, the finance minister said, so nodecision had been taken by the government on approaching the InternationalMonetary Fund.
The finance minister emphasised that the government’s fight was with issuessuch as unemployment and inflation and not with the opposition.
When asked about austerity measures, Umar said that the prime ministerwanted to send a message that this is the nation’s money and should be usedby them.