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Pakistan, IMF reach consensus to finalize bailout package: Asad

Minister for Finance Asad Umar has said that Pakistan had reached a consensus with the International Monetary Fund on all issues to finalize the bailout package.

Briefing the National Assembly’s Committee on Finance, Revenue and Economic Affair in Islamabad, he said both sides during his recent visit to Washington agreed in principle on the bailout package.

Asad Umar said IMF team will visit Islamabad during the current month to finalise the bailout package amounting six to eight billion dollars.

The Finance Minister said IMF had not given any guidelines or made demands regarding electricity and gas tariffs.

He said the government has also no plan to increase the prices of electricity and gas in coming days.      

Later talking to media persons, the finance minister said Pakistan soon would be in a position to seek more financial assistance from the World Bank, Asian Development Bank and big investors in the United States.            

Asad Umar said soon economy of the country would stabilize and move towards sustainable economic growth. 

To a question, the minister said he met Financial Action Task Force (FATF) President Marshall Billingslea during his US visit, who assured him that any decision regarding Pakistan would be taken on technical grounds.      

Briefing the committee, Minister of State for Revenue Hammad Azhar said the government's priority is to broaden the tax net for increasing its revenues.