Going to IMF would have intensified problems: PM Imran

ISLAMABAD: Prime Minister Imran Khan said on Thursday that Pakistan taking help from the International Monetary Fund would have intensified its problems.

The prime minister  was addressing a ceremony for the inauguration of ‘Pakistan Banao Certificate’ for overseas Pakistanis.

“Going to the IMF was not difficult but the easier option for us,” he said, adding that the balance of payment crisis has not resolved yet.

Pakistan was going through a difficult phase. “No other government has faced a deficit like this,” the prime minister said.

The prime minister added that the situation in Pakistan was daunting. “We knew as outsiders that the country was crumbling, as insiders we saw the extent of how bad affairs were.”

Prime Minister Khan emphasised that despite the situation in Pakistan, since his time in office he had seen the huge potential the country has to offer. He emphasised the need to improve management in the country and concentrate on tourism.

“We have a lot of potential for religious and historical tourism. For the promotion of tourism, we have even introduced e-visas. With revenue through tourism we can balance our current account deficit.”

The prime minister thanked Finance Minister Asad Umar, State Bank Governor and others involved in the Pakistan Banao Certificates scheme. “This is a scheme that will not only uplift Pakistan but also generate profits for our overseas Pakistanis.”

Prime Minister Khan said overseas Pakistanis had a higher appreciation for their home country and are at the forefront for national causes. He added that 85 per cent of Pakistan’s remittances are by overseas Pakistanis. “We are facilitating overseas Pakistanis and making this process smooth for them.”

The government has launched ‘Pakistan Banao Certificates’ which overseas Pakistanis can buy now. These certificates will have maturity of three and five years.

On these certificates, the rate of return on three years would be 6.25 percent, while on five years would be 6.75 percent.

The certificates can be purchased on minimum investment of $5000 with no upper limit.