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Minister of Finance Asad Umar Executive Interview with PTI Social Media (01.12.18)

1,006 views · Published 1 December 2018 · 54:33 · Indexed 29 September 2026

Channel: Pakistan Tehreek-e-Insaf · 2018 · News & Politics

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Minister of Finance Asad Umar Executive Interview with PTI Social Media (01.12.18)
#PTI #PTISMT

“Rupee valuation against dollar is done by State Bank of Pakistan. 
PMLN kept the value low artificially by draining forex reserves and once that became unstable in Dec 2017 it depreciated 23% in next 7 months. Legal proceedings against 3100 tax defaulters.
I categorically said before elections that we will have to go for some bailout.China & UAE agreed for a package in principle and details are worked out.We initiated talks with IMF within 2 weeks after getting elected and will share the agreement once signed.Govt inherited Rs 3000 bn fiscal deficit & other losses but we are putting least burden on poor.Decreased taxes on LPG & fuel price.Int price used for oil computation in Nov is avg $77 when oil was bought in Oct-Nov,current prices will be reflected next month.Decreased electricity & gas prices for export sectors.Working on payment gateway for IT sector. 2 task forces for legislative & administrative steps for crackdown on smuggling and under invoicing.Afghan transit trade and Incentivising remittances.Credit financing for 173k small & medium enterprises to be increased from Rs 425 bn to Rs 1900 bn for 700k enterprises to encourage business. Exxon mobile to start offshore oil fields exploration .Increased renewable energy projects. Online govt payments .We are trying to move Pakistan from consumption led imported capital financed to investment led export oriented productivity driven growth. 
Productivity growth and different monetary, PSDP policies for sustainable non inflationary growth”

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