Govt decides to initiate negotiations with IMF for economic recovery: Asad Umar

ISLAMABAD, Oct 8 (APP):Minister for Finance Asad Umar said on Monday that the government had decided to initiate negotiations with International Monetary Fund (IMF) for the recovery and stabilization of national economy.
In a video message, the minister said that everyone was aware of the difficult economic conditions left by the previous government for the country. That was why; he said the Pakistan Tehrik-i-Insaf led government had decided to take measures to take the country out of the crisis.
Asad Umar said that the government inherited loans worth billions of rupees, which needed to be managed. The government had to take difficult decisions to put the national economy on its feet, he added.
He said the government wanted to create such an environment where the cycle of going to international financial institutions was not repeated by successive governments.
He said that the discussions were also held with financial experts. The government has decided to look for more than one resource, simultaneously, he maintained.
He said the government wanted to protect interests of lower income segments of the society. The government aims to put a “minimum impact” on the low-income classes, while passing on the burden to wealthy citizens, he added.