Prime Minister Shehbaz Sharif had explicitly given permission to Chief of Army Staff (COAS) General Qamar Javed Bajwa to approach the Biden administration for an early disbursement of loan tranche from the International Monetary Fund (IMF).
According to local newspaper report, the economic situation came under discussion between the PM and the COAS in which the two decided to take certain measures. It was proposed that the army chief would speak with the US administration to influence the early disbursement of funds from IMF.
The army chief, after speaking to the US authorities, had reported back to PM Shehbaz. The two also discussed other options of getting Pakistan out of the current difficult economic crisis-like situation.
According to an international media report, the COAS contacted US Deputy Secretary of State Wendy Sherman on telephone. General Bajwa had appealed to the US deputy secretary for expediting the disbursal of IMF program.
According to media reports, Finance Minister Miftah Ismail has already met with the US ambassador in Islamabad for revival of the IMF bailout package.
The board meeting of IMF is expected in the third week of August. In order to revive the stalled program, Pakistan has already agreed for some very tough measures. Removing petroleum products’ subsidies, increasing power and gas tariffs and increasing taxes are among the decisions taken by the current coalition government led by the Pakistan Muslim League-Nawaz.
