Business Pakistan

No intention to go for IMF bailout package, Miftah says

Written by The Frontier Post

F.P. Report

ISLAMABAD: Minister for Finance Dr Miftah Ismail Saturday said the government had no intention to get any bailout package from International Monetary Fund (IMF) as it believed that economic measures taken during the last five years would take the country to strong financial position.

Addressing the post budget press conference flanked by adviser to PM on Revenue Haroon Akhtar Khan, Chairman Federal Board of Revenue Tariq Pasha and Secretary Finance Arif Khan, he said the government had no intention to get any bailout package from IMF as effective economic strategy had been put in place to improve national economy. “We have no intention to go for bailout package from the IMF. Efforts are being made to avoid the bailout out package,” he said in reply to a question.

The minister expressed confidence that foreign exchange reserves would further improve in the coming days due to prudent policies introduced by the government.

To improve the current account deficit, Adviser to PM on Revenue Haroon Akhtar said, the government had given an export package in its earlier budget plan that greatly helped in “triggering” the country’s exports. “If the exports continued with the same pace, we will have no need to go to anyone for financial assistance. So, there is no need to get panicked.”

Furthermore Finance Minister Miftah Ismail Saturday is planning to contest in upcoming general election from NA-243 and NA-244.

Addressing the post budget press conference, he said, “I was planning to contest the upcoming general election from NA-252 in Karachi, but after delimitation of constituencies, Prime Minister Shahid Khaqan Abbasi has recommended me to contest from both NA-243 and NA-244 seats.” Miftah Ismail expressed the confidence that he would win the elections due to his prudent steps taken for the uplift of the national economy. “The PML-N government has announced a lucrative package for Karachi in the federal budget, which the MQM could not announce in 25 years,” he said.

The minister said the federal government had also provided funds for the green buses to facilitate the masses in the port city.

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The Frontier Post