Govt to take parliament, people into confidence over economic policies: sources

ISLAMABAD: Prime Minister Imran Khan has directed the ministers to take parliament and masses into confidence over his government's economic plans, sources informed Geo News Tuesday. 

According to sources, the premier said that the incumbent government faces far severe challenges than the previous governments and it has to make difficult decisions to address the challenges while speaking in a meeting attended by party leaders, ministers and economists.

The economists proposed the premier their recommendations to improve the economy, the sources said. One of the proposals was to take loans for a short IMF loan for a short span of time while ensuring cost-cutting, sources said.

The premier also expressed his strong reservations over the below par performance of the government's media team.

He decided to personally give his view over the government's economic agenda. 

'Country going through a tough time'

The US dollar soared to Rs134 in the interbank market, touching an all-time high and lending yet another blow to the rupee. In the open market, the dollar gained by over Rs9 to touch a new high of Rs138.

According to analysts, the rapid increase in the dollar is owing the government's decision to approach the International Monetary Fund (IMF) to deal with the prevalent financial crisis.

Finance Minister Asad Umar in a video message on Monday night said talks with the IMF will start "immediately" as Prime Minister Imran Khan has given the go-ahead to do so. 

He said the country is going through a tough time, which has been left behind by the previous government. “We have to find a way to get out of this difficult situation.”