Abb Takk News

Asad Denies Report Regarding Decision To Approach IMF

Islamabad (August 28, 2018): Finance Minister Asad Umar on Tuesday has said the government has not made a decision to approach the International Monetary Fund (IMF) for a bailout package.

Addressing in upper house, Federal Finance Minister said that consultations on the current economic situation are underway and a final decision will be taken after taking the Parliament on board.

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“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 question on which country’s banks had given loans to Pakistan.

He said Pakistan has yet not decided to take a bailout package from International Monetary Fund (IMF).Asad Umar said consultations on economic situation are continuing and the final decision will be taken after taking on board the Parliament.

About National Finance Commission Award, Asad Umar said it is a constitutional obligation and on the first day in his office, he directed the finance secretary to initiate the process for the new NFC Award.

He said it will be his utmost endeavor to announce new NFC Award at the earliest.On the other hand, Foreign Minister Shah Mehmood Qureshi announced to hold consultation with Senate regarding formulation of Pakistan’s foreign policy.

He said that all parties have same stance over national interest and that he will try to convey parliament’s message to United States.

He said that Pakistan desires to turn its bilateral relations with the US towards improvement, adding that US Secretary of State is expected to visit Pakistan on the 5th of next month.

Shah Mehmood Qureshi said weightage will be given to the opinion of people and its elected representatives while taking forward relations with Washington.

The handout of the US State Department regarding telephonic conservation was contrary to the facts, he clarified.

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