Pak Army Chief Reaches Out To UAE, Saudi Arabia For Crucial Bailout Package: Report
A few days after searching for us to help in securing the initial release of USD 1.7 billion in installments which is important from the International Monetary Fund (IMF) to Pakistan, the Head of the Qamar Javed Bajwa Army has now reached Saudi Arabia and the UAE as part of its efforts to make sure financial assistance For countries that lack money, according to media reports on Saturday.
Because the IMF Executive Council will meet the end of this month to officially approve the next stage of the installment of USD 1.2 billion, the international lender wants Pakistan to ensure that he receives a commitment from his friends for financial assistance, the Express Tribune newspaper reports.
It is believed that the IMF has asked Pakistan to provide a company guarantee that his friends will provide USD 4 billion for external requirements.
Pakistan is in talks with main allies such as Saudi Arabia, UAE and China to provide the necessary funds, the report said.
When Prime Minister Shehbaz Sharif traveled to Saudi Arabia in April, he returned empty -handed because Riyadh did not provide a strong guarantee. UAE is also reluctant to come to save. Instead of giving loans, the UAE offers Pakistan to buy shares and assets.
Regarding this background, the army is believed to have spoken to the authorities both in Saudi Arabia and the UAE for financial assistance,” the report said.
The Pakistani army media wing in a statement on Friday said that General Bajwa received a call from UAE President Mohamed bin Zayed al-Nahyan where the Gulf Leader expressed his deepest condolences over the loss of a tragic life due to a helicopter accident in Lasbela.However, it did not mention any discussion related to financial assistance to Pakistan.
The latest development came a few days after Bajwa was reported to speak to our Deputy State Secretary, Wendy Sherman in July last week sought the assistance of Washington for the initial meeting of the IMF Executive Council.
Bajwa spoke by telephone with Sherman and also appealed to the White House and the US Ministry of Finance to encourage the IMF to immediately speed up a loan of nearly 1.2 billion USD, the news agency managed by the Associated Press of Pakistan (APP) had reported, quoting the source of the army entry Pakistan.
However, foreign offices have pretended to be ignorant if the two leaders talk about the economy even when confirming that Bajwa and Sherman have a telephone conversation.
Bajwa in the past acted as the main speaking of financial problems when he traveled to the Gulf Countries that sought financial assistance for the Government of Prime Minister Imran Khan in 2018. That was due to its military diplomacy, UAE and Saudi Arabia expanded the Aliout Financial Bailout Package. , said Express Tribune Report.
The reason the head of the army must play a role that comes from the fact that other countries may not be ready to receive a guarantee of civilian leadership, he said.
