Islamabad: Minister of State for Finance Dr Ayesha Ghous Pasha clearly told the Standing Committee on Finance of the National Assembly that Pakistan has no alternative plan other than the International Monetary Fund.
Briefing the committee members which met under the chair of Qaisar Ahmed Shiekh, she said that there is no option but to restore the current program.
The Minister of State for Finance said that Pakistan has no plan B except the IMF.
Pakistan has fulfilled all the difficult conditions of the IMF adding that she said that the IMF had set a condition of obtaining six billion dollars through external financing.
Three billion dollars were received from friendly countries. However, the fund officials are of the opinion that Pakistan should get the required amount first, she explained.
She also said that the Prime Minister has assured MD IMF to complete the program while MD IMF has given hope to revive the program.
Pasha also said that the ninth review of the program has been completed and now under the tenth review, Pakistan is consulting with the IMF on the budget for the next financial year.
The Chairman committee appreciated the government’s clear stance on the IMF program.
About the inflation in the country, the State minister for Finance said that the main cause of inflation is the acting governments of Punjab and Khyber Pakhtunkhwa, which are not taking action against hoarding and overselling.
The committee expressed displeasure in the absence of the Minister of Finance & Revenue, and deferred “the Companies (second amendment) Bill, 2020 (Ord. No. X of 2020) (Government Bill)”, till his presence in the meeting.
The Committee also expressed serious concern on the absence of the President National Bank of Pakistan and other senior officials for their briefings on the agenda items and decided to take action under the Rules of Procedure and Conduct of Business in the National Assembly, 2007 if they remain absent in the next meeting of the Committee.
The Chair observed unnecessary delay in the selection process of the President of some Banks, financial institutions and Members of Board of Directors. The Minister of State for Finance and Revenue assured the Committee of earlier completion of the selection process.
The Chair expressed displeasure at the incomplete briefing of the Finance Division on Budget Strategy Paper for the Financial year 2023-24 and desired that the Minister of State will share the Paper with the Committee as soon as it is finalized.
The Committee recommended that the Federal Government appoint competent, experienced senior officers of the departments against these vacant positions.