ISLAMABAD: The PTI leader Asad Umar who has been tipped as the futurefinance minister of Pakistan has hinted at bad news for the country.
He has said Pakistan has no option but to go to the International MonetaryFund (IMF) to address its economic woes.
Asad, who is frontrunner for the office of the finance minister, will beleading the negotiations if the upcoming PTI government decided to knock atthe door of the IMF.
Talking to a local TV channel on Saturday , he said the current economiccrisis required drastic economic measures at the government level. Pakistancurrently needs around $11 billion to fill its external financing gap inthe ongoing fiscal year. Asad made it clear that there will be no extensionin the tax amnesty scheme, as the PTI is already opposed to it. He said thescheme has brought not more than $60 to $70 million to the state kitty.
He said the currently the country faces a monthly deficit of $2 billionadding the scheme could not help overcome the deficit of even one and ahalf day. He said the country’s forex reserves stand at $9 billion whichincluded $7 billion advance loan.
The PTI leader said the actual forex reserves of Pakistan are $2 billion.Asad said an industrial consultative council and business consultativecouncil will be constituted which will report to the prime minister.