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Thu. Sep 29th, 2022
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ISLAMABAD: Days after seeking US help in securing an early release of a crucial $1.7 billion instalment from the IMF to Pakistan, Army chief General Qamar Javed Bajwa has now reached out to Saudi Arabia and the UAE as part of his efforts to ensure financial assistance for the cash-strapped nation, according to a media report on Saturday.
As the executive board of the International Monetary Fund is set to meet later this month to formally approve the next tranche of $1.2 billion instalment, the international lender wants Pakistan to ensure it receives commitment from its friends for financial assistance, Express Tribune newspaper reported.
It is believed that the IMF has asked Pakistan to provide firm guarantees that its friends would provide $4 billion for its external requirements.
Pakistan is in talks with key allies like Saudi Arabia, the UAE and China to provide the necessary funding, the report said.

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