ISLAMABAD – Pakistan needs $9 billion to run the country’s system. FinanceMinister Asad Umar while speaking in Senate said that the issue to approachInternational Monetary Fund (IMF) will be decided after taking theParliament on board.

A plan to this effect will be finalized in next one or two weeks and thenit will be presented before the Parliament for discussion, he added.

Umer informed the House that the tax reforms strategy will be introduced bythe government to increase tax base in the country.

He told during question hour that the new FBR chairman has been appointedand next week a meeting will be held with the department’s officials todiscuss implementation of the reforms strategy.

The minister revealed that currently one million people are filling theirtax returns and there is a room to further enhance the figure to aboutthree million.

He told that Prime Minister Imran Khan will chair a high level meeting onMonday to discuss issues relating to currency smuggling and money serviceproviders.

He stressed that the government has to take definite actions before thenext meeting of FATF.

Asad Umar asserted that the government has decided in principle to launchDiaspora and Sukuk bonds. He said some other initiatives will also be takento improve the flow of remittances to the country.

He pointed out that exports saw decline and imports surged over the lastfive years, and the government had to obtained loans to fill the gaps. Hesaid our effort is to address the root causes of the loans.

While responding to a calling attention notice, Asad Umar expressed theconfidence and said Pakistan will come out of the FATF grey list by meetingits obligations.