ISLAMABAD - Finance Minister Saleem Mandviwala has said Pakistan will go for new IMF programme‚ if required.

Addressing a news conference in Islamabad‚ he said Pakistan would not default as the country has immense potential.

He said budget preparation is underway. Mandviwala said current year’s target for remittances was proposed at $14.5 billion 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. The Finance Minister said Election Commission has demanded Rs5.9 billion for general elections while Rs2 billion have already been released in this regard.