Pakistan close to signing agreement with IMF: Asad Umar

PESHAWAR, Pakistan: The Federal Minister for Finance Asad Umar has said that Pakistan is close to signing an agreement with economic assistance package with the International Monetary Fund (IMF).

While addressing a ceremony at Chamber of Commerce and Industry in Peshawar on Monday, he expressed satisfaction that the international lender has shown flexibility on its position.

The finance minister said that the government will simplify the tax procedure in order to widen the tax net. He said that a pilot project to this effect will be introduced for traders in Islamabad first and then will replicated in other parts of the country.

Underscoring the importance of increasing trade with neighboring countries, Asad Umar said that Pakistani products have a huge potential in Iran, Afghanistan and other countries of the region.

The minister said that gas discoveries made in Southern districts of the province will help improve the supply of this commodity in the province. He said that the province is also endowed with rich water resources and hydel potential of the country need to be effectively used.

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