Remaining Part of Finance Minister Asad Umar Interview with BBC Hard Talk Kulbhushan's Business
Asad Umar, the finance minister of Pakistan, on reforming Pakistan's economy
Finance Minister Asad Umar Exclusive Interview in Urdu with BBC HardTalk Rising Pakistan Economy
Asad Umar says will only take IMF’s money, not dictation
–Finance minister govt devalued rupee, increased gas tariff without waiting for IMF
–Says domestic resource mobilisation, export-oriented economy will end ‘begging-bowl syndrome’
Finance Minister Asad Umar on Wednesday defended the recent hike in power and gas prices, devaluation of rupee and increased taxation as a part of necessary measures to bring the country out of economic crisis.
In an interview with BBC’s Stephen Sackur, the finance minister said, “Both the monetary policy and the fiscal policy have been moving in the very direction of the reforms that are needed. We don’t need IMF to dictate us for us to do that, because we believe this is what’s necessary.”
Pakistan, on November 19 received the first tranche of $1 billion from Saudi Arabia under the $6-billion financial package aimed at stabilising the fast-dwindling foreign currency reserves. Earlier, the reserves had contracted fast and dropped to a four-and-a-half-year low of $7.48 billion by November 9, 2018, according to the State Bank of Pakistan (SBP).
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