PM Shehbaz summons urgent meeting of economic team

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday summoned an urgent meeting of economic experts to discuss the current financial challenges facing the country, ARY News reported quoting sources.

Sources privy to the matter told ARY News that the economic team will brief the prime minister on the negotiations with International Monetary Fund (IMF) on the ninth review and export industry issues.

The prime minister will issue important instructions to the economic team aimed at improving the economy. The meeting is likely to be attended by Finance Minister Ishaq Dar, State Bank of Pakistan Governor Jameel Ahmed, and officials from the Federal Board of Revenue (FBR), they say.

Separately, Prime Minister Shehbaz Sharif will also chair a meeting on energy in Lahore where he would be briefed on the gas load management plan. The energy team will brief the premier regarding gas supply to domestic consumers and industry.

Furthermore, the petroleum ministry will brief the meeting about the import of oil from Russia at discounted rates.

Earlier in the day, Minister of State for Petroleum Musadik Malik said that Pakistan will import 20,000 tons of additional gas from Azerbaijan during the next 2 months to meet its demand in the country.

In a statement, the minister said that the Russian Petroleum Minister will visit Pakistan next month for negotiations on an agreement for import of crude oil from Russia.

The state minister was confident that Russia would export crude oil to Pakistan at discounted rate.

He said the government is working on TAPI gas pipeline project to import 1300 billion MF Gas yearly from Azerbaijan to meet the gas shortage in the country.