ISLAMABAD – Finance Minister Asad Umar has stunned all with his remarksabout Ishaq Dar.
He was all praise for his predecessor as the incumbent minister claimedthat Pakistan Muslim League Nawaz (PML-N) had no other option apart fromapproaching IMF. Umar added, “It was not Ishaq Dar’s fault to seek bailout”.
However, Umar stated that Pakistan would contemplate on all other availableoptions if the would-be conditions of IMF are not acceptable.
Rubbishing rumors linking CPEC with the economic turmoil, Umar assertedthat Pakistan would not use bailout package to repay the Chinese loans.“The accusations of United States linking bailout package with Chinesedebts don’t hold ground. Pakistan will have to pay merely $300 mln in thenext three years. There is no harm in sharing details of Chinese debt withIMF.”, Asad told reporters.
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“The biggest reason for approaching the monetary agency is augmentingcurrent account deficit. Furthermore, the rising oil prices will have allbut negative impacts on Pakistan’s economy”, Asad warned while calling foran end to political interference in finance ministry.
On October 11, the incumbent government of cricketer-turned-politicianImran Khan formally requested IMF for financial assistance, setting in amotion a series of talks for potential bailout.