Medium-term strategy paper by April 30: Budget not earlier than May 24: adviser

The newly-appointed Finance Adviser Dr Abdul Hafeez Sheikh Saturday said that talks with the International Monetary Fund (IMF) would be sped up for an expected bailout package, besides issuing directives for preparing medium-term strategy paper for the budget 2019-20. Speaking to mediapersons ahead of his meeting with Prime Minister Imran Khan, Dr Sheikh said that the process of talks with the IMF will be made fast. Pakistan wants the process of talks with the IMF to proceed and the international lender has committed to sending a mission soon.
Dr Sheikh said that the directives have been issued for budget preparation and a medium-term strategy paper for the budget. "We will be able to furnish a medium-term strategy paper by the 30th," said Sheikh, adding that the budget can be presented not earlier than May 24.
The advisor said that he had spoken to the director of the IMF to speed up the negotiation process of the bailout package for Pakistan. The IMF has given him assurances in this regard as the government wants the IMF mission to visit Pakistan as soon as possible to finalise the programme in the best interest of the country. The IMF mission will visit Pakistan as per schedule and the bailout package is likely to be received in May, said the advisor.
Referring to the discussions with the IMF for a bailout package, Sheikh said that he would be taking negotiations with the IMF forward. "Both parties want progress on the matter, and they have a commitment with us. I will be contacting the IMF mission head this evening (Saturday)," he stated.
According to sources in the Finance Ministry, the advisor spoke to secretary finance on budget preparation and directed him to prepare medium-term strategy paper. Further they held talks on revenue and expenditure and finalised items. The medium-term strategy paper will be sent to cabinet on 30th April.
Earlier, Dr Sheikh took charge of his office Saturday. The finance adviser will also have the charge of Revenue and Economic Affairs Division. Sheikh's designation will be at par with that of a federal minister.
Senior officials of the Finance Ministry welcomed Dr Shaikh and congratulated him. The advisor announced that economic decisions need to be well thought-out and free from emotions.
Later, Dr Sheikh called on Prime Minister Imran Khan and apprised him of his talks with the IMF for bailout package as well as economic challenges. It is learnt that an economic roadmap was also discussed in the meeting.