Daily Times

Minister for Finance Asad Umar has said that Pakistan had reached a consensus with the International Monetary Fund on all issues to finalize the bailout package.

Briefing the National Assembly’s Committee on Finance, Revenue and Economic Affair, he said both sides during his recent visit to Washington agreed in principle on the bailout package.

He said IMF team will visit Islamabad during the current month to finalise the bailout package amounting six to eight billion dollars.

The Finance Minister said IMF had not given any guidelines or made demands regarding electricity and gas tariffs.

He said the government has also no plan to increase the prices of electricity and gas in coming days.

Later talking to media persons, the finance minister said Pakistan soon would be in a position to seek more financial assistance from the World Bank, Asian Development Bank and big investors in the United States.

Asad Umar said soon economy of the country would stabilize and move towards sustainable economic growth. To a question, the minister said he met Financial Action Task Force (FATF) President Marshall Billingslea during his US visit, who assured him that any decision regarding Pakistan would be taken on technical grounds.

Chinese Ambassador discuss issues of mutual interest with Finance Minister

Briefing the committee, Minister of State for Revenue Hammad Azhar said the government’s priority is to broaden the tax net for increasing its revenues.

Ambassador of China to Pakistan Mr. Yao Jing called on Federal Minister for Finance Asad Umar here on Tuesday and discussed with him issues of bilateral interests besides emphasizing the need for enhancing and expanding bilateral cooperation.

Welcoming the Chinese Envoy, Asad Umar said that China was a reliable friend and her support was essential for the social and economic development of Pakistan. He briefed the envoy about the measures taken by the government for creating enabling environment for foreign investment.

He said that the Chinese businessmen and investors would also benefit from the current environment by making investment in various sectors, particularly agriculture, housing, health, education and energy.

The meeting discussed the ongoing projects being built under the umbrella of China Pakistan Economic Corridor (CPEC).

Mr. Yao Jing reiterated his country’s commitment to timely complete the projects. He expressed the hope that CPEC would bring social and economic prosperity to both countries.

Appreciating the vision of the Prime Minister of Pakistan Imran Khan, the Ambassador said that the Chinese businessmen’s confidence has enhanced due to the economic policies of Pakistan.

During the meeting, the forthcoming visit of Premier Imran Khan to China also came under discussion. Both the sides expressed the hope that the visit would further boost strategic, economic and industrial relations between the two neighbours.