Finance Minister terms talks with IMF, WB very good

Washington: Minister for Finance and Revenue Miftah Ismail says the International Monetary Fund has agreed to send its mission to Pakistan in the middle of the next month for the continuation of the Extended Fund Facility program.

Addressing a press conference in Washington, the minister said he and his team had very good discussions with the IMF, the World Bank, and IFC.

He said the incumbent government will fulfill all sovereign commitments made by the previous governments with IMF and regarding CPEC.

The Finance Minister said Pakistan has never defaulted in the last 70 years and will not default in the future too. He, however, said there had been excessive budget deficits which led to increasing debts.

He said the incumbent government will try its best to reduce debts by enhancing the overall GDP.

Replying to a question, he said Pakistan cannot afford to continue subsidies on petroleum products due to its economic condition.