With the IMF bailout not materialising despite lengthy negotiations, the government has decided to ask for US help to help move things along, sources said on Monday.
Sources said that the government is ‘seriously unhappy’ at the IMF’s recent attitude as the bailout program has still not been resumed despite Pakistan fulfilling all its requirements. This includes Rs170 billion in additional taxes
The government has therefore decided to contact the US government and ask them to use its influence over the moneylender to help the bailout be released.
Sources also said that as part of the efforts, Finance Minister Ishaq Dar will also personally reach out to IMF authorities.
The bailout tranche worth $1.1 billion has been touted by government authorities as the first domino that will set aid from other friendly countries in motion.
Dar has continuously said that the IMF help will arrive ‘any day now’. However, as the days since the IMF team’s departure from Islamabad turn to weeks, pressure on Dar has increased in the face of historically high inflation coupled with low forex reserves.