ISLAMABAD – Finance Minister Asad Umar on Friday said that measures are being taken to revive the economy of Pakistan which is in a critical phase.
Addressing an event at Islamabad Chamber of Commerce and Industry (ICCI), the finance minister said that the country’s economy is undergoing heart bypass surgery.
He added that the economy of the country will be on track and running after the surgery is successfully completed.
Talking about the arrival of the team of the International Monetary Fund (IMF), Umar said that the ongoing talks are part of the routine, adding that there is no plan to get a bailout.
“However, if we need to approach IMF for a bailout then the talks that are underway right now will form the basis for it,” Umar further said.
The delegation of IMF landed in Pakistan Thursday on a week-long visit to hold talks with the new government’s officials to review the economic situation and monetary requirements of the country.
The IMF mission headed by Herald Finger will meet the officials of the Ministry of Finance, Governor State Bank and other officials of economic affairs during their stay.
The IMF delegation is also expected to hold a meeting with Finance Minister Asad Umar.
According to the finance ministry, the purpose of the delegation’s visit is the part of the government’s strategy to keep all options open. While the monetary fund has called it a regular visit to Pakistan.
During the talks, debt payment and monetary reforms will also come under discussion.
In August, Finance Minister Asad Umar said in a statement that his government needs $9 billion to run Pakistan.
He said Pakistan, as per the budget, need $9 billion to run the country. “We are trying to address the root cause that compels us to borrow these $9bn. Off course, we know any policy will take time to yield results,” he added
