Home »Money and Banking » Pakistan » Government-IMF differences narrowed down: Umar
Minister for Finance Asad Umar has stated that Pakistan and the International Monetary Fund (IMF) have covered a considerable distance over new programme and two sides are continuously holding talks on technical level. Talking to media persons after chairing the Association of Chartered Certified Accountants (ACCA) Pakistan Leadership Conversation here on Thursday, the minister claimed that differences with the IMF have narrowed down and "we will invite IMF mission to conclude the discussion when the two sides reach an agreement on new bailout package."

In reply to a question, the finance minister said that India is damaging its own economy, not Pakistan's, by slapping duties on Pakistani products and withdrawing Most Favoured Nation (MFN) status.

The finance minister said that steps taken by India demonstrated immaturity and they are harmful for its own economy. Pakistan is not going to face any loss as a result of Indian measures to impose 200 percent duty on Pakistani products.

He said that the Financial Action Task Force (FATF) outcome in response to compliance by Pakistan to its action plan is expected on Friday (today).

Earlier, in his address, the minister said the government is bringing about reforms in governance system and implementation on these reforms would put the country on sustainable path of economic growth and prosperity. He said there is a need to place the right person at the right position.

The finance minister said capabilities of professionals can be utilised in the best manner through providing them incentives, and collaboration of government and private sector brings improvement in performance of every sector.

The finance minister further stated that professional training is of vital importance for ensuring good governance. The incumbent government is taking every possible step for welfare of the traders, he added.

Copyright Business Recorder, 2019


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