10192017Headline:

We need bailout funds from IMF: Ishaq Dar

Finance Minister Ishaq Dar in a statement said that government of Pakistan will approach IMF for a bailout fund of $5 billion. He said that at this moment IMF bailout can not avoided to make the economy resurrect enough to stand on its own. He said that government will not come under pressure from IMF demands and loans will be sought based on government priorities for the economy.

Ishaq Dar said that $3 billion will be paid to IMF next month. He said that in the next fiscal year 500,000 new tax payers will be added to the tax net. He was of the view that national interest should not be decided on emotional bases.

Pakistan foreign reserves have gone down to $11.4 billion despite increase in foreign remittances to $12 billion which is the highest level it has ever achieved.

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