Hafeez Shaikh says issued directives for new budget preparation

ISLAMABAD: Prime Minister’s newly-appointed adviser on finance Dr Abdul Hafeez Shaikh Saturday said that he has issued directives for preparations of the upcoming budget, ARY News reported.

In his first public statement after taking charge of the Ministry of Finance, the adviser said that he will also speed up the talks process (for bailout package) with the International Monetary Fund (IMF).

Shaikh said that he has issued basic instructions for preparation of the medium term strategy paper for the upcoming budget.

Finance Adviser said that the targets for revenue and expenditure have been finalized.

Shaikh said that Pakistan intends to move ahead the negotiations with the IMF. The IMF has assured to send its delegation to Pakistan, he further said.

The mission of the financial institution will arrive in Pakistan soon, Shaikh said.

“I will also hold talks with the IMF mission head for Pakistan this evening,” he further said.

Dr. Hafeez Shaikh has held a meeting with Prime Minister Imran Khan and briefed him about his conversation with the IMF officials, according to the sources.

President Arif Alvi on Friday approved the appointment of Abdul Hafeez Shaikh as Adviser to Prime Minister on Finance. He has been given the status of a federal minister.

Mr Shaikh, a noted economist, has earlier served the country as Finance Minister from year 2010 to 2013 and as Minister of Privatization and Investment during 2003 to 2006.