Finance Minister terms talks with IMF, WB very good

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Islamabad: Minister for Finance and Revenue Miftah Ismail says the International Monetary Fund has agreed to send its mission to Pakistan in middle of the next month for continuation of Extended Fund Facility programme.

Addressing a press conference in Washington, the minister said he and his team had very good discussion with the IMF, the World Bank and IFC.

He said the incumbent government will fulfill all sovereign commitments made by the previous governments with IMF and regarding CPEC. The finance minister said Pakistan has never defaulted in last 70 years and will not default in future too. He, however, said there had been excessive budget deficits which led to increase in debts. He said the incumbent government will try its best to reduce debts by enhancing overall GDP. Replying to a question, he said Pakistan cannot afford to continue subsidy on petroleum products due to its economic condition.

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