The National Assembly Standing Committee on Finance and Economic Affairs was informed on Tuesday that there was no need for the government to reschedule repayments of loans to the International Monetary Fund (IMF). During a meeting of the committee, held with Khawaja Sohail Mansoor in the chair, the finance additional secretary said Pakistan could easily repay the loans to the IMF because the government had sufficient reserves available. He said of the $7.87 billion in loans taken from the IMF, Pakistan had already repaid $2.40 billion while $1.70 billion had still to be repaid in the current year. Regarding the imports of used cars, the committee was of the view that some ambiguities were found in the matter of imports of the three years used cars in the country. Besides, the Competition Commission of Pakistan (CCP) and the National Tariff Commission of Pakistan (NTC) were also working on the report in this regard and it would be revealed soon, the committee said. The committee chairman said the services of oversees Pakistanis could not forgotten because they were sending huge remittances to make the country financially stable. A member of the committee, Abdul Rashid Godil said if the incentives were to be announced for oversees Pakistanis, the remittances could be increased from $13 billion to $20 billion per year. However, it was told to the committee that the remittances of $47 billion had been recorded in the past five years.
