Finance Minister Asad Umar has said that the government has decided to start negotiations with International Monetary Fund for stabilization and recovery of national economy.
In a video statement on Monday, he said the government inherited loans worth billions of rupees, which needs to be managed.
He said difficult decisions the government has to take will help stand the national economy on its feet.
The Finance Minister said the government wants to create such an environment where the cycle of going to international financial institutions is not repeated by successive governments.
He said efforts are afoot to protect the interests of lower income segments of society.