ISLAMABAD            -        Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh Saturday said Pakistan having good terms with the International Monetary Fund (IMF), dispelling the impression that the proposals of the fund were binding upon the country.

“Pakistan enjoys good relation with IMF and has been engaged in constant dialogue with it,” Dr Hafeez told the media here in the post-budget briefing.

Responding to the criticism on Pakistan-IMF ties, he said the institution, which had been working with 200 countries, was created with an aim to pull out the countries from financial crisis in times of need by lending money. “IMF works as a bank and its board can give loans to its member state which faces financial crunch.”

He said other international institutions such as the Asian Development Bank and World Bank also take decision on the basis of IMF policy for provision of loans to any country. “Pakistan is not bound to follow the IMF’s proposals,” he remarked.