Finance Minister Senator Saleem H Mandviwala Thursday said there is neither any programme to seek new loans from the International Monetary Fund (IMF) nor there is any proposal under consideration for this purpose.
The finance minister said if the parliament gave its approval for Tax Amnesty Scheme, the government would not need to go to the IMF. He however said if need arose; the option of going to IMF is always there. He said if the Tax Amnesty Bill was passed, it would help overcome the revenue shortfall for the ongoing financial year. Mandviwala rejected the interview of Asian Development Bank Country Director that Pakistan could face difficulty in balance of payment and would need up to $9 billion from the IMF to shield the economy. He also denied having said that the government was going to approach the IMF for new package and instead had stated that the government has made timely payments of 10 installments to the Fund. He said this has improved the credibility of Pakistan in international financial institutions.