Asad Umar 'optimistic' About IMF Bailout Package

Finance Minister Asad Umar on Monday has said that Pakistan is close to signing an agreement with economic assistance package with the International Monetary Fund (IMF).Addressing a ceremony at Chamber of Commerce and Industry in Peshawar, the minister expressed satisfaction that the international lender has shown flexibility on its position

PESHAWAR (UrduPoint / Pakistan Point News / NNI - 11th February, 2019) Finance Minister Asad Umar on Monday has said that Pakistan is close to signing an agreement with economic assistance package with the International Monetary Fund (IMF).Addressing a ceremony at Chamber of Commerce and Industry in Peshawar, the minister expressed satisfaction that the international lender has shown flexibility on its position.He said government will simplify the tax procedure in order to widen the tax net.

He said a pilot project to this effect will be introduced for traders in Islamabad first and then will be replicated in other parts of the country.

Asad Umar while underscoring the importance of increasing trade with neighboring countries said Pakistani products have a huge potential in Iran, Afghanistan and other countries of the region.He said gas discoveries made in Southern districts of the province will help improve the supply of this commodity in the province.

He said the province is also endowed with rich water resources and hydel potential of the country need to be effectively used. NNI