Finance Minister Saleem H Mandviwala expressed confidence that Pakistan would not default on its debts but added that the country will go for a new IMF programme if need be. While addressing a news conference in Islamabad on Wednesday, the finance minister also said the Election Commission of Pakistan (ECP) has demanded Rs 5.9 billion for conducting general elections, adding that Rs 2 billion have already been released in this regard. Responding to a question, he said budget preparation is underway. Mandviwala said the current year’s target for remittances was proposed at $14.5 billion but he thought the actual figure would turn out to be on the lower side and a revised target would be submitted next week.
He said a dollar bond scheme is being prepared and efforts are being made to streamline the working and performance of the Federal Board of Revenue (FBR).
Will knock on IMF’s door again, if need be: Mandviwala
