Previous policies on CPEC were unhelpful: Pakistani Finance Minister

Karachi: Finance Minister Miftah Ismail has said that that previous policies of Pakistan had not helped the Chiba-Pakistan Economic Corridor (CPEC).

Speaking at a news conference here, Ismail admitted that the CPEC was given the attention it deserved.

“We need a consistent policy on CPEC. Delays are not in the interest of Pakistan,” he emphasised.

The Finance Minister informed that the government has requested Saudi Arabia not to withdraw its deposits given to the State Bank of Pakistan (SBP) and extend its oil facility for Pakistan.

The finance minister claimed that corruption was rampant during the tenure of the last regime.

He further said that the International Monetary Fund (IMF) delegation would soon visit Pakistan.

Last month, Miftah Ismail had said that the IMF had set out five major conditions for the revival of US $6 billion bailout package, including the reversal of fuel subsidies and the withdrawal of the tax amnesty scheme.

The other conditions are an increase in electricity tariffs, the imposition of new taxes and ensuring fiscal savings aimed at bringing down the projected primary budget deficit of Pakistani Rs1.3 trillion to the earlier agreed limit of Rs 25 billion surplus, he noted..