Govt wants to revive IMF programme: Ayesha Pasha.

ISLAMABAD -- Minister of State for Finance Aisha Ghaus Pasha has said that the government wants to continue programme with the International Monetary Fund (IMF) in such a way that the common man should not bear the burden of tough decisions to be made as per the Fund's condition.

Briefing the Senate Standing Committee on Finance, Mrs. Pasha said that the government's economic team is having meetings with the Prime Minister to focus on its program with the IMF. She said the Prime Minister was not in favor of taking tax measures across the board that could put an extra burden on the poor and common people.

To a question, she did not give any date when to start talks with the IMF team but she said that the government was firm to go with the program after having a detailed workout. She said the government would try to convince the IMF about the worst situation in Pakistan after the disastrous floods last year. 'The people are already suffering due to the disastrous flooding and they are not in a position to afford any further measures'.

Earlier, briefing the Senate Committee on Finance she informed that Pakistan is going through an extraordinary situation.

A representative of the Pharmaceutical Manufacturing Association briefed the committee that the pharmaceutical industry has a potential of $6 billion. He said that this industry imports 93% of raw materials and the remaining 7 percent is also ordered from India, however, the LCs are 100% closed.

He said that we have made advance payments but still the LCs are not open adding that all the banks are...