ISLAMABAD – Finance Minister Asad Umar has hinted at a good news from theInternational Monetary Fund soon for the bailout package.

He has said that the differences between the International Monetary Fundand the government are narrowing down. The IMF has softened on many of itsdemands.

He said this while speaking at an event at the Federation of PakistanChambers of Commerce and Industry (FPCCI), Lahore.

Umar said that the government is planning to facilitate the small andmedium enterprises (SMEs), small traders, and cottage industry to tap theirfull potential for the growth of the economy.

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He further announced that the Economic Coordination Committee (ECC) willhold its next meeting on February 5 to discuss the special economic zones(SEZs) and the situation of current economic zones along with the cottoncrop strategy 2019.

The finance minister was surprised that the cotton production of Pakistanin 2018 has remained less than it was in 1992. He called it an alarmingsituation and said that the cotton crop is the backbone of Pakistan’seconomy.

He said this is the reason the ECC meeting agenda includes discussing thecotton crop strategy. The agriculture ministers from Sindh and Punjab willalso be present at the meeting to frame the strategy.