Sunday, September 26, 2021

Govt approached IMF to bridge financial gap: Fawad


ISLAMABAD: Information Minister Fawad Chaudhry has said the government approached the International Monetary Fund (IMF) for a bailout package to ensure the smooth functioning of the economy and bridge the financial gap.

In a interview to a private news channel, the federal minister said that country was facing a deficit of around $12 billion as 28 to 30 billion dollars per year were required to run the country’s affairs annually, and the gap could be bridged through the IMF.

However, he said that the strings attached to the IMF loan were the main concern, as Pakistan cannot compromise on national interests which would be ensured during negotiations with the global lender.

He said the people were already burdened with financial problems and the government didn’t want to further pile on their miseries, and that effective measures were being taken to provide relief to them.

Replying to a question, he said the politics of Sharif family had now ended and they would not be able to play any political role in the country.

He said the opposition was crying foul to escape from corruption cases, but warned that the government would not be pressured and would go till the last end to take action against corrupt elements.

He said investigations were underway regarding transactions worth billion of rupees in bank accounts of common people. He also urged the media to refrain from airing fake news in haste and adhere to ethics and responsibilities.

Responding to another question about China-Pakistan Economic Corridor (CPEC), he said China was not only an economic partner but also a strategic one, while some other countries also wanted to become partners in the important project.

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