Islamabad: Finance Minister Saleem Mandviwala has said that Election Commission (EC) has demanded 5.9 billion rupees for general elections while 2 billion rupees have already been released in this regard.
He stated this while addressing a news conference in Islamabad on Wednesday. He said Pakistan would not default as the country has immense potential. However country will go for new IMF programme‚ if required.
Responding a question he said that budget preparation is underway. Mandviwala said current year’s target for remittances was proposed at 14.5 billion dollar but he thinks it is on the lower side and a revised target would be submitted next week.
He said a dollar bond scheme is being prepared and efforts are being made to streamline working and performance of Federal Board of Revenue.