ISLAMABAD - Pakistan, which immediately needs $5 billion to help keep economy afloat, will obtain loan from International Monetary Fund under Stand-By Arrangement, carrying comparatively higher interest rate but no limit on borrowing as against the 1990s programme, says Shaukat Tarin.   The Advisor to Prime Minister on Finance and Revenue, Shaukat Tarin Thursday said as against 1990s Poverty Reduction and Growth Facility Programme with the Fund, which had limit on borrowing, "now we are going on Stand-By Arrangement", that will carry three to four per cent prime interest rate and "its quantity would be multiple to Pakistan's quota in the IMF that is $1.6 billion". "We have not formally requested for a facility from the IMF's Board of Directors as of now", he said and added, "Within 30 days if we don't get cash then I will actively go for the Plan C (IMF)". Shaukat Tarin reiterated that the final decision to get into the IMF Programme would be made till November 15, as by then Friends of Pakistan forum, a bunch of friendly countries, will come out with a clear stance. To a question, the Advisor said other than normal assistance of multilateral donors Pakistan was in an urgent need of US $ 5 billion. The country is expecting $1.5 billion from Asian Development Bank, $1.4 the World Bank, $500 million the Islamic Development Bank and about $1 billion (600 million Sterling Pound) from Britain's Department for International Development. With $4 billion of the multilateral lenders Pakistan's total needs stand at about $9 billion. The economists make responsible former Prime Minister Shaukat Aziz for the current economic meltdown who did not control the widening trade deficit and kept financing it through capital inflows.   The Advisor tried to defend the government's decision of applying to the Fund for discussions on the Economic Programme and Financial Package. "We have started discussions so that if by November 10 we could not get anything concrete under Plan A (multilateral) and the Plan B (Friends of Pakistan) then we would go to the IMF without wasting any time."  The Advisor said Pakistan had presented its Economic Stabilisation Package to the IMF that was reviewing it and hoped that the discussions would be finalized by November 15. Pakistan Package promises 4.3 per budget deficit, net zero borrowing from the central bank, flexible exchange rate, cut on expenditure, prioritisation of Public Sector Development Programme and poverty alleviation, he added. "If they agreed on our package (that is also IMF package) then Pakistan would go to the IMF programme", he said.      Answering a question regarding the statement of Richard Boucher, the US Assistant Secretary of State, that the Friends of Pakistan would not give cash, the Advisor said the scope of the forum was much broader than cash. "We would not only talk about money but also about oil help, workers' remittances bond of $1.5 to $2 billon and opening of markets for Pakistani products". He further said Pakistan would prefer Free Trade Agreements with the United States and the European Union to cash. He said Saudi oil facility would come under the Friends of Pakistan forum and was very much on. "Friends of Pakistan have good intentions but for Pakistan timing is a big issue", he said and added they had their own way of work coupled with financial crisis that was why they were detracted from Pakistan.     Talking about Rs 50 billion stock market bailout package, Shaukat Tarin said the relief was aimed to liquidate non-bank financial institutions. "The government has decided that all the A rated TFC of all kinds will be provided guarantees for one year to create liquidity in the market". He said the government guarantees would ensure Rs 25 to 30 billion additional liquidity for Mutual Fund Industry. He said the government set up Rs 20 billion Non-Resident Pakistan Fund for 7 to 10 public sector entities. He also said the money would be used for buying shares and to sell to Pakistanis residing abroad. The National Investment Trust will regulate the Fund. The National Bank of Pakistan, State Life, NIB bank and Employees' Old Age Benefit Institutions will each provide Rs five billion and the government will give the sovereign guarantees. Shaukat Tarin said the reserves decline created panic and the market became nervous. The aggressive buying of dollars from the State Bank of Pakistan also contracted rupee in the market, as it was going to the central bank, he said and added to overcome this, the government gave a bailout package of Rs 270 billion but this could not help the non-bank financial institutions. He said Rs 30 billion were earmarked for foreigners to motivate them not to sell their shares when the government would remove floor from Karachi Stock Market on October 27. The NIT will manage the money and give options to the foreigners who bought shares before August 27 that if they keep their share for one year, the government will compensate them in case of loss in share values.