The Pakistani government will not approach the International Monetary Fund (IMF) for a bailout package as of now and will instead explore alternative options to bring the cash-strapped country’s economy back on track, Finance Minister Asad Umar said on Saturday.
Umar made the remarks while talking to businessmen at the Karachi Chamber of Commence and Industry, Dawn online reported. He said that instead of rushing into the International Monetary Fund (IMF) programme, the government was looking at different avenues.
The minister also announced that the government will unveil a mini-budget on January 23 instead of January 21, citing Prime Minister Imran Khan’s travel commitments.
Umar rejected reports that the government was only borrowing money, saying several agreements had also been signed to bring investment into the country. “The impacts of the investment agreements will start surfacing from the next week,” he added.
Pakistan is in talks with the IMF to secure a $8 billion bailout deal for its ailing economy.