KARACHI: Pakistan does not have the intent to opt for another program of IMF loan as economy could bear the pressure alone to finance its budget deficit, said finance minister Dr. Hafeez Shaikh on Friday.
All government authorities including finance ministry, the State Bank of Pakistan and Planning commission jointly evaluated the position of Pakistan economy and decided not to go for fresh program of IMF.
The finance minister along with his team left for Washington to negotiate with IMF officials regarding end of the current IMF program and to brief them about the efforts taken to meet economic targets.
Finance ministry tried their best to implement all the major economic commitments but somehow they failed to introduce value added tax (VAT), limit fiscal deficit to 4.7 per cent of GDP, and bring reform in power sector, senior officials said.
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