Asad Umar briefs IMF delegation on Pakistan’s economic policies

ISLAMABAD: Finance Minister Asad Umar on Wednesday met a delegation of the International Monetary Fund (IMF) led by its Executive Director for Pakistan Jafar Mojarrad, ARY News reported.

Umar was accompanied by team of officials from the Finance Ministry. Umar also met a first deputy director of IMF.

During the meeting, Asad Umar briefed the IMF delegation on Pakistan’s economic policies.

It may be noted here that Pakistan’s discussions with the Washington are also underway to get the country an economic package from the IMF.

Umar earlier this week said talks with the International Monetary Fund (IMF) for another bailout package are in final stage.

Addressing a ceremony in Islamabad, he thanked Dr Hafeez Pasha for his framework that helped in striking a deal for a fresh bailout package for Pakistan.

“We were handed over a patient [economy] in ICU, which was cured with immediate steps”, he contented.

He said Pakistani economy has see-off the critical phase now it is in transition phase and gaining stability.

Lamenting the wrong policies of the past governments, he said we took fresh loans not to pay off older one but just to pay their heavy interest.

Umar said country’s export was at 13 per cent in 2003, but now it has dropped and standing at 8 per cent.