Karachi: Former finance minister and incumbent Chairman of the standing committee on finance in the National Assembly, Asad Umar revealed about the IMF deal and his plan to avoid one.
While addressing attendees at the Karachi School of Business and Leadership (KSBL), Umar said, “In March [this year], I went to the prime minister and showed him the numbers. I told him that going to the IMF was now a choice as opposed to compulsion."
While referring to the 'choice' other than IMF, Umar explained that the alternate option was to utilize the positive reputation of PM Imran Khan in the international financial market, as well as the ties of Pak Army with Gulf Countries according to Urdu Point.
“That choice had been created primarily because of the phenomenal goodwill of the prime minister in the global market, particularly in Asia, and a very mutually reinforcing relationship between the civil and the military arms of the government,” Umar told the audience.
According to Umar, it was PM Khan`s decision whether to pursue such a strategy or not. Umar quoted PM Khan saying, “You know I am a risk-taker but everyone is saying that we should go to the IMF.”
It is pertinent to mention that Umar resigned from finance ministry earlier this year where his resignation was followed by a massive cabinet reshuffle with a minister in and out of the cabinet on a day`s notice.
Although Umar was offered petroleum ministry instead, the former refused to be a part of the federal cabinet again, later he was appointed as chairman standing committee on finance in the national assembly.
While addressing attendees at the Karachi School of Business and Leadership (KSBL), Umar said, “In March [this year], I went to the prime minister and showed him the numbers. I told him that going to the IMF was now a choice as opposed to compulsion."
While referring to the 'choice' other than IMF, Umar explained that the alternate option was to utilize the positive reputation of PM Imran Khan in the international financial market, as well as the ties of Pak Army with Gulf Countries according to Urdu Point.
“That choice had been created primarily because of the phenomenal goodwill of the prime minister in the global market, particularly in Asia, and a very mutually reinforcing relationship between the civil and the military arms of the government,” Umar told the audience.
According to Umar, it was PM Khan`s decision whether to pursue such a strategy or not. Umar quoted PM Khan saying, “You know I am a risk-taker but everyone is saying that we should go to the IMF.”
It is pertinent to mention that Umar resigned from finance ministry earlier this year where his resignation was followed by a massive cabinet reshuffle with a minister in and out of the cabinet on a day`s notice.
Although Umar was offered petroleum ministry instead, the former refused to be a part of the federal cabinet again, later he was appointed as chairman standing committee on finance in the national assembly.