Finance Minister (FM) Asad Umar on Saturday said that the negotiations with International Monetary Fund (IMF) were in progress and Pakistan would receive $1 billion from Saudi Arabia in a day or two.

While talking to members’ overseas chamber, who called on him in Karachi, Asad Umar assured the chamber of provision of security to traders. The chamber members briefed the finance minister about their issues as well.

Later, while talking to media, Asad said that the government was taking measures to enhance investment in the country. In this regard, industrialists’ suggestions matter a lot. He said, “There is information about existence of illegal money in Dubai banks.” He further said that information regarding assets of 95,000 Pakistanis in foreign banks has been gathered.

Asad Umar said that all departments were on board and in this connection a law was being drafted. He said that FBR could not achieve the set target of tax collection due to corruption.

“The current government is taking all possible measures to increase the tax net,” the finance minister said. He added that $1 billion will be transferred in Pakistan’s accounts in a day or two.