You are currently viewing China to help increase Pakistan’s exports: Asad Umar

China to help increase Pakistan’s exports: Asad Umar

  • Post author:
  • Post category:Asia / Economy / Pakistan
  • Post last modified:07/11/2018
  • Reading time:2 mins read

ISLAMABAD: Minister for Finance Asad Umar on Wednesday said concrete measures would be taken to increase exports to further strengthen the national economy.
During the recent visit of Prime Minister Imran Khan to China, the Chinese president had assured to help to enhance Pakistan’s exports, he said talking to a private news channel. He said during the visit, talks were held with China about the transfer of leading technology of Cyber Security.  The minister said any condition of International Monitory Fund (IMF) against the national interest would not be acceptable and expressed hope that this would be the last programme of IMF for the country.
He said the previous government had taken massive loans from international organizations, which was why the country was confronting economic challenges. Loans were indispensable but the governments should try to take fewer loans, he added. Asad Umar said a huge amount of the loan, instead of being utilized for the welfare of masses, was going directly to pay the loan’s interest, adding Rs. 1900 billion would be paid in shape of loan interest this year.  He said the government had approved to import 50,000-ton urea fertilizer this year for Rabi crop.
The minister said the government would not privatize PIA and Steel Mill but would make them profitable organizations. Task had been given to Minister for Trade Razaq Dawood for formulating the policy to run the Steel Mill in 45 days, he added. He said no compromise would be made on national security and decisions would be taken for the betterment of the nation and larger interest of the country.
Replying to a question, Asad said he met with Alice Wells who was the Deputy Assistant Secretary of State for the Bureau of South and Central Asian Affairs and discussed with her matters of economy and IMF programme. He said crackdown was needed to be done against money laundering and legislation would be made for this purpose.
The minister said the government had only imposed a tax on luxurious items in the budget, without putting the burden on poor people. Asad Umar said inflation was still in single digit and the inflation ratio was four percent on 20 percent of the poor people in the country.