Govt ready to reach ‘amicable solution’ with IMF
Minister for Finance and Revenue Ishaq Dar on Friday admitted the smuggling of dollars is still going on.
Speaking in the NA standing committee on finance, Ishaq Dar said the flight of dollars from Pakistan has slowed down but is still on.
The minister said after the political change in Afghanistan, the transfer of millions of dollars from Europe is seized.
He said the smuggling of foreign currency worth $20 million dollar was foiled, while sugar smuggling worth 5 billion was also caught.
Commenting on the diminishing foreign reserves of the country, Dar said $1.30 billion recently paid to settle a Chinese loan will be refinanced by China today or Monday.
“SBP will receive $1.30 billion from China today or Monday,” Ishaq Dar said and added that talks for a $2 billion dollar swap were also underway with Beijing.
Meanwhile, in a statement the government, responding to the International Monetary Fund’s reservations over the fiscal year 2023-24 budget, tabled in the National Assembly last week, the government expressed willingness on Friday to show flexibility on the matter and said it remained engaged with the international money lender to reach an “amicable solution”.
“We are not ‘doctrinaire’ about any element of the FY24 budget and are keenly engaged with the IMF to reach an amicable solution,” the finance ministry said in a statement, adding the government was “fully committed” and “keen” to at least complete the ninth review of a $6 billion IMF programme, which has been stalled since October.
