Finance Minister Ishaq Dar has expressed a serious concern over the announcement of civil disobedience movement made by Pakistan Tahreek-e-Insaaf Chairman Imran Khan, saying that it would have grave consequences on the economy. Talking to a private TV channel from Dubai, he said that the International Monetary Fund (IMF) team had cancelled its visit to Pakistan due to the prevailing political situation.
He added that the IMF had issued a travel advisory to its delegation, currently holding discussion with Pakistani authorities for the fourth review of the country's economy under Extended Fund Facility, not to travel to Pakistan.
"The IMF delegation has been stopped from visiting to Pakistan," he said, adding that the announcement by the PTI chief was very serious matter.
Analysts say that the country's economy might collapse if Khyber Pakhtunkhwa government decided not to pay electricity and gas bills as well as General Sales Tax (GST). The Finance Minister said that the economy had suffered Rs 450 billion loss including Rs 350 billion loss in Stock Exchange due to the tense political situation and sit-ins by PTI and Pakistan Awami Tehreek.
APP adds: Minister for Finance Senator Muhammad Ishaq Dar here on Sunday left for Dubai to join the ongoing talks for the fifth review under three-year Extended Fund Facility (EFF) programme of total US $6.6 billion and to get tranche of about $550 million due to good economic performance of the government.
An official of the Ministry of Finance told APP that Minister for Finance had left here for Dubai to join ongoing Pak-IMF talks in Dubai. He added that Secretary Finance Dr Waqar Masood Khan was leading the talks on behalf of the Government of Pakistan while Jeffery Franks, IMF Mission Chief to Islamabad, was representing the Fund.
The official further said that at the conclusion of the successful talks between Pakistan and IMF, Ishaq Dar and Jeffery Franks will address a joint press conference in Dubai. He added that Finance Minister Ishaq Dar will return home tomorrow (Monday).
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