Finance Minister says Government making efforts to reduce current account deficit, assures brokers to resolve issues

The Finance Minister, Mr. Asad Umer, visited the Pakistan Stock Exchange on Saturday, where he listened to the recommendations from brokers and gave assurances that he will consider them.

During his visit the finance minister asked the SECP to address all outstanding issues of the PSX. He said group taxation and working of the FBR will be streamlined to help build more conglomerates.

CGT Carry Forward of losses will be allowed and Steps will be taken to make stock market transparent system.

Speaking on the state of the economy, the Finance Minister said the government was working on many plans to raise funds and was working on other options in addition to the IMF.

He said the IMF deal is likely before the winter break and that the government has made adequate planning to meet external payments till Feb 2019 and assured that the country will not face difficulties if the funds from the IMF are delayed.

The finance minister said the Current Account Deficit figures would be released in the next couple of days and he was hopeful the CAD would average around $1 Billion for August and September, instead of $2 billion each month.

The government has taken measures to reduce imports to curtail the trade deficit. The Current Account deficit is likely to reach $12 Billion.

During the current fiscal year the government has to pay $ 9 Billion dollars.

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