Islamabad: Pakistan’s army chief General Qamar Javed Bajwa has now approached Saudi Arabia and the United Arab Emirates (UAE) as part of their efforts to ensure financial assistance to the cash-strapped country. This information has come to the fore in a media report on Saturday. A few days before this, General Bajwa had sought help from the US to get an important relief package of $ 1.7 billion from the International Monetary Fund (IMF).
According to the report of Pakistan’s daily newspaper ‘The Express Tribune, the IMF Executive Board is scheduled to meet later this month, in which the next installment amounting to 1.2 billion US dollars for Pakistan has been formally approved. will be given. The IMF wants Pakistan to ensure the commitment of its friendly countries to get financial aid.
It is believed that the IMF has asked Pakistan to give a firm guarantee that its friends will provide $4 billion for its external needs. The Express Tribune report said that Pakistan is in talks with key allies like Saudi Arabia, UAE, and China to provide the necessary funds.
When Pakistan Prime Minister Shahbaz Sharif visited Saudi Arabia in April, he returned empty-handed as Riyadh had not given him any firm assurances. The UAE was also reluctant to come to Pakistan’s rescue. Instead of giving loans, UAE offered to buy shares and property from Pakistan. According to the report in ‘The Express Tribune’, Pakistan’s army is believed to have spoken to officials in both Saudi Arabia and UAE for financial help.
