Govt in no hurry to sign agreement with IMF: Asad Umar

ISLAMABAD: Minister of Finance and Revenue Asad Umar on Friday assured the nation to sign the agreement with the International Monetary Fund (IMF) that will suit nation and economy of the country.

Speaking in the National Assembly, the Minister said that government will not sign the agreement in pressure and they are not in a hurry for the IMF package as alternative arrangements have been made to address immediate economic needs of the country, he maintained.

He said they would not make any decision which increase difficulties of the people.

Finance Minister Asad Umar made it clear that the government will only sign such an IMF package which is in the interest of Pakistan’s economy and the people.

The Finance Minister said that Pakistan has already signed an economic assistance package with Saudi Arabia while talks with other friendly countries are underway.

Asad Umar said 15.50 percent increase has been witnessed in the remittances during the first month of the present government while 20 percent witnessed in second month.

He said the overseas Pakistanis have sent additional one billion dollars to Pakistan during three months period.

About the prices of petroleum, the Finance Minister said they have substantially reduced taxes on the diesel five times lower as compare to the previous government.

Asad Umar urged the opposition not to do politics on China Pakistan Economic Corridor as it will not augur well for the country.

He said government was taking steps for strengthening the economy of the country and “we have to take steps to reduce trade, current account and budget deficits”, he added.

The minister said the budget deficit was 4.1 percent in last years but after general elections, the deficit of the budget is now 6.6 percent which is Rs 900 billions.

Criticizing on the Opposition, Asad Umar said that Opposition Leader Shehbaz Sharif has taken the unmatched U-turn as he had vowed to drag Asif Ali Zardari in streets and hang him but now he is praising same Zardari.