Pakistan now out of crisis phase: Umar

ISLAMABAD: Federal Finance Minister Asad Umar said on Sunday Pakistan is now out of the crisis phase and country’s economic situation will soon improve.

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Addressing the National Assembly’s Standing Committee on Finance, Revenue and Economic Affairs chaired by Faizullah Kamoka, the Minister said meetings have taken place with the investors and International Monetary Fund (IMF) and have reached “agreement in principle” with the IMF.

The Minister said delegation of IMF will arrive Pakistan in last week of April and there was no recommendation on electricity rates hike.

Umar said the The Financial Action Task Force (FATF) is a big concern and will respond to them in the evening. He said have informed FATF about Pakistan’s reservations against India.

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