Pakistan not facing economic crisis, Asad Umar

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ISLAMABAD : Finance Minister Asad Umar on Tuesday dismissed the notion that the country is facing an economic crisis and said all fundamental economic indicators are improving.

Inaugurating the 11th South Asia Economic Summit organised by Sustainable Development Policy Institute in Islamabad, the finance minister said, “The financing gap for the current fiscal year has been plugged and the fruits of government’s vibrant economic policies will soon be visible.”

Regarding reports of the country facing a crisis, Umar said, “Spreading rumours about the national economy would not do any service to the country.”

“All fundamental economic indicators are now improving with exports witnessing an upward trend while the imports are decreasing. Current account deficit is also being overcome gradually,” he added.

Further, the finance minister said, “There will be no compromise on the independence of State Bank of Pakistan rather it will further be institutionalised.”

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