‘Trade deficit shrinking due to rise in export, foreign remittances’

0
645
  • Finance minister says govt is not in a hurry for IMF package

ISLAMABAD: Finance Minister Asad Umar on Thursday asserted that the country’s trade deficit had reduced due to a rise in foreign remittances and exports.

Talking to journalists in Islamabad, Asad Umar ruled out any threat of a default, saying that the country’s trade deficit had shrunk due to a decrease in imports volume.

He said that a record 65pc increase was observed in loans to the private sector from July to December 2018.

The minister said that the government was in contact with the International Monetary Fund (IMF), but they were not in a hurry for the IMF package. “We will sign an agreement that suits the country’s economy,” he said.

The minister said that the government was also taking measures for the alternative arrangements to address immediate economic needs of the country. “We would not make any decision which increases the difficulties of the masses,” he added.

The minister said that the hike in gas and electricity prices would not affect the poor, adding that the government was taking measures to increase investment and ease business in the country.

LEAVE A REPLY

Please enter your comment!
Please enter your name here