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Govt needs $12 bn from IMF, friendly countries: Fawad Chaudhry

ISLAMABAD: Information Minister Fawad Chaudhry has said the government needed $12 billion from the International Monetary Fund (IMF) and friendly countries to run the state’s affairs.

Fawad Chaudhry said that overall $30 billion were required a year to run the country. He said that Pakistan will seek financial assistance from China, Saudi Arabia, United Arab Emirates and other countries to overcome the current economic crises.

While talking about Pakistan’s political situation, Fawad Chaudhry, said that it was the last elections of Pakistan Peoples Party’s (PPP) Asif Ali Zardari and Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif.

Read More: Under compelling economic situation, govt had to approach IMF: Fawad

The minister, on October 13, had said the government had to go to the IMF for loans under compelling economic situation in the country.

“The country needs eight billion dollars to pay back loans this year,” he said while talking to newsmen in Lahore.

Fawad had said the government was set to accomplish the task of constructing five million houses. He said the government was determined not to spare those persons who plundered the national exchequer.

The minister had said he had submitted a resolution in the National Assembly for constitution of a parliamentary commission to identity those responsible for current fragile financial situation of Pakistan and submit its report in one month.

He had expressed the hope that the country will not be facing a similar situation when the Pakistan Tehreem-e-Insaf government completes its term.

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