Talks with IMF in final stage, says Asad Umar

ISLAMABAD: Finance Minister Asad Umar has said that talks with the International Monetary Fund (IMF) are in final stages.

Talking to media, he said that the government will have further negotiations with the newly appointed IMF mission before reaching an agreement.

He said that the new IMF mission chief for Pakistan has been nominated who is due to arrive in Islamabad on March 26. The mission chief is due to hold meetings with the Ministry of Finance and State Bank of Pakistan (SBP).

The Finance minister said that after the annual meetings of World Bank and IMF in Washington next month, negotiations will be held with the IMF mission for final agreement.

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Replying to a question, he clarified that the agreement on deferred payment of oil was made with Saudi Arabia and not the UAE. However, he said that $3 billion deposit facility by UAE is in place and Pakistan has already received $2 billion of it.

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