Finance Minister Umar yet to decide about Pakistan approaching IMF

Finance Minister Umar yet to decide about Pakistan approaching IMF

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ISLAMABAD: Finance Minister Asad Umar speaking on the floor of the Senate on Tuesday said the government has not reached a conclusion so as to approach the International Monetary Fund (IMF) for a bailout package.

Consultations on the current economic situation are underway and a final decision will be reached after taking the Parliament on board, Umar said.

“Even if Pakistan goes to the IMF programme, this won’t be the first time that Pakistan has gone to the IMF programme. We have gone to the programme 12 times previously,” he added.

The finance minister informed the Senate that previously there was no query regarding country’s banks who had provided loans to Pakistan.

Regarding the National Finance Commission Award, Umar said it is a constitutional obligation, therefore, on the first day after resuming office he directed the finance secretary to initiate the process for the new NFC Award.

 

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