KSA, UAE assure support to Pakistan in getting IMF loan

n Gen Qamar Javed Bajwa speaks to KSA, UAE authorities to share fresh IMF loan conditions.

ISLAMABAD    –   Army Chief General Qamar Javed Bajwa yesterday spoke to top authorities of Saudi Arabia and UAE and discussed the IMF program and its fresh conditions with them and sought their assurances as desired by the IMF.

The Army Chief had to talk to Saudi and UAE authorities after the IMF put fresh conditions for the approval of $1.2 billion loan tranche expected in late August with Pakistan’s ability to timely secure ‘adequate assurances’ from trusted friendly countries for more loans to bridge the worsening financial deficit.

Credible sources told The Nation that both Saudi and Emirati authorities extended full assurance to Pakistan for its ability in getting an external financial facility from the IMF.

The board meeting of IMF is tentatively planned for late August, however, no exact date has been given by the board. It is expected that the IMF board after its meeting would release nearly $1.2 billion tranche against the original plan of the $2 billion.

According to the sources, both UAE and Saudi authorities said they do realise the financial difficulties being faced by Pakistan and assured their full cooperation for Pakistan in getting and early financial facility from IMF for Pakistan.

After the army chief talked to UAE and Saudi authorities on the phone a report was sent to the IMF.

According to a statement issued by the ISPR directorate, Gen Qamar Javed Bajwa received telephone call from President of UAE Sheikh Mohamed bin Zayed Al Nahyan on Friday. During the call, the UAE president expressed deepest condolences over the tragic loss of precious lives due to the helicopter crash in Lasbela.

Meanwhile, the Army Chief also received a telephone call from General Fayyadh Bin Hamed Al-Ruwaili, Chief of General Staff (CGS), Kingdom of Saudi Arabia. He also expressed deepest condolences over the copter crash tragedy.

Meanwhile, General Qamar Javed Bajwa visited the families of Major General Amjad Hanif (Shaheed) and Major Muhammad Talha Manan (Shaheed) in Rawalpindi.

On the occasion, the COAS said, “Shuhada are the pride of our nation, we can never thank families of our Shuhada enough for their great sacrifice. It’s our duty to stay connected with them and we are forever responsible for their well being.”

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