Finance Minister Asad Umar has dismissed the sentiments that Pakistan is facing an economic emergency, as the country is set to meet the International Monetary Fund (IMF) in coming days.
“Pakistan is not in an emergency situation that requires it to rush to the International Monetary Fund (IMF) to seek a bailout,” said Asad, quoted Arab News. “We have neither stopped imports nor imposed financial sanctions,” the minister added.
However, the former Engro chief was of the view that taking prudent economic decisions was the need of the hour. “We need to take well-measured decisions. As a situation emerges, we take steps to manage it. We don’t want to take decisions in emergency,” he said.
The IMF's staff mission is scheduled to visit Pakistan on September 27 to engage with the Pakistani authorities.
Speaking about Prime Minister Imran Khan's recent visit to Saudi Arabia, the finance minister revealed that 'only verbal discussions have taken place so far'. “We have discussed trade-related issues, foreign direct investment, visa fees and issues faced by our laborers,” said Umar.
Just days ago PM Khan visited the kingdom, marking his first foreign tour as prime minister. Earlier, Information Minister Fawad Chaudhry announced that high-level delegations from Saudi Arabia and the UAE will visit Pakistan to discuss trade and security in October.
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