October 28, 2008	Tuesday	Shawwal 28, 1429

LAHORE, Oct 27: Prime Minister’s adviser on finance, Shaukat Tareen, on Monday sounded quite confident of securing financial help from the International Monetary Fund (IMF) for shoring up Pakistan’s foreign exchange reserves and stabilising deteriorating macroeconomic indicators on Islamabad’s conditions.

“There would be no give and take. Why should there be any give and take? he said in answer to a question after a meeting with businessmen from across central Punjab.

“I’m positive that the IMF will endorse our (macroeconomic stabilisation) programme. The fund hasn’t raised any objection to our programme or come up with any condition so far. If they come up with any condition, we will deal with it when we negotiate (the loan),” Mr Tareen said.

The economic stabilisation programme commits the government to reducing the fiscal deficit to 4.7 per cent this year from 7.4 per cent during the previous financial year, raise the tax ratio to 15 per cent from 10.5 per cent, maintain a flexible exchange rate, zero net borrowings from the State Bank by eliminating all energy, food and other subsidies, and co-opting the private sector in the PSDP.