ISLAMABAD Instead of breaking down the shackles of external borrowing, the PPP-led Government is contemplating to seek more than one loaning facilities from the International Monetary Fund, as the ongoing standby loan ends in December. The Government is most likely to strike both of the new IMF lending windows namely the Standby Credit Facility (SCF) and Extended Credit Facility that have replaced Poverty Reduction Growth Facility and the Stand-By Agreement (SBA), respectively, a senior government officials informed TheNation on Tuesday. Asked whether Pakistan would qualify for these new loaning facilities, the officials said these are already aimed at making IMF financial support more flexible as per the needs of a particular low-income country. Moreover, the IMF itself wants to keep Pakistan under one or, preferably, two of its loaning programmes, simultaneously, in order to keep a check on its political leadership, the official said. The IMF and the Pakistani bureaucracy were on the same page in doubting credibility as well as capacity of the political leadership to manage the economy in a responsible manner, the official observed on the basis of his personal experience as key member of incumbent economy managers team. According to the official, it was the high time for both the powerful quarters (bureaucracy and IMF), as the political appointees including Finance Minister Adbul Hafeez Sheikh and Deputy Chairman Planning Commission Dr Nadeem-ul-Haq are also having a tilt towards the IMF as against economic sovereignty. Therefore, it was written on the wall that Pakistan would avail two, at a time, IMF facilities perhaps as a gesture of compensation by the affluent international community that had disappointed it in the Friends of Democratic Pakistan (FODP) forum. The IMF has established a new Poverty Reduction and Growth Trust (PRGT) that has three new lending windows. The new windows, which became effective in January 2010, are the Extended Credit Facility (ECF), which replaces the Poverty Reduction and Growth Facility (PRGF). The ECF provides sustained engagement in case of medium-term balance of payments needs. It should be based on a countrys own poverty reduction strategy, and offers more flexible timing requirements than previously for countries to produce a formal poverty reduction strategy document. The Standby Credit Facility (SCF), replacing the Exogenous Shocks Facilitys High Access Component, is similar to the Stand-By Arrangement for middle-income countries. The SCF provides flexible support to low-income countries with short-term financing and adjustment needs caused by domestic or external shocks or policy slippage. It targets countries that no longer face protracted balance of payments problems but may need help from time to time, and can also be used on a precautionary basis to provide insurance. In Pakistans case it would qualify for the SCF having suffered extra-ordinary losses due to the prolonged war on terror wherein it has been playing a frontline as well as key role in the international context.