-Jumps in for country’s financial rescue
– Moves Biden administration to press IMF for early release of about $1.2 billion loan
-FO confirms Gen. Bajwa’s contact with Wendy Sherman
-It is not COAS’s job to contact US for help, says Imran Khan
-CENTCOM Chief General Erik calls on Gen. Bajwa
By Our Defence
Correspondent
ISLAMABAD: Chief of Army Staff General Qamar Javed Bajwa has appealed to the United States to help Islamabad secure an early dispersal of $1.2 billion in funds under an International Monetary Fund loan programme as Pakistan faces the risk of debt default due to dwindling foreign reserves.
The Foreign Office (FO) on Friday confirmed that there has been contact between Chief of Army Staff General Qamar Javed Bajwa and US Deputy Secretary of State Wendy Sherman.
At a weekly briefing Friday, after confirming Gen Bajwa’s contact with the US official, Spokesperson Asim Iftikhar Ahmad said that the FO wasn’t aware if the two officials talked about the economy.
“Our understanding is that ISPR (Inter-Services Public Relations) will be able to comment on it,” he added. The FO’s statement comes amid reports that the COAS reached out to Washington requesting help in securing an early loan dispersal from the International Monetary Fund (IMF). According to a report published in Nikkei, Gen Bajwa spoke on the phone with Sherman earlier Friday.
“The sources, who requested anonymity because they were not authorized to speak publicly, said Bajwa made an appeal for the White House and Treasury Department to push the IMF to immediately supply nearly $1.2 billion that Pakistan is due to receive under a resumed loan program,” it stated. Pakistan has been mired in economic turmoil with depreciating rupee, sky-rocketing inflation and a spiralling energy crisis, and officials hope the revival of the IMF programme will help bring stability to the country. Last month, the Fund confirmed
it had reached a staff-level agreement with Pakistan on the combined seventh and eighth reviews for a $6 billion loan facility, a development that paves the way for the release of the much-awaited $1.17bn. However, the tranche will only be released after an executive-level agreement, which has been delayed till late-August. Former prime minister Imran Khan addressed the reports in a television interview broadcast later on Friday. In a media interview Imran said, “if these reports are correct, then it implies we are weakening as a country”.
Imran said it was not the army chief’s job to undertake such efforts. He said America would also make demands of Pakistan if it helped Pakistan economically. “I fear our national security will weaken in the face of US demands, and eventually Pakistan will suffer.”
He also underlined that his party’s funding sources were disclosed, saying “we have a database of 40,000 people who fund us.”
Imran alleged the two families — Sharifs and Zardaris — had been “looting” the country for 30 years, adding whether those “having power in Pakistan” had no idea about the alleged graft of the two parties. “Is it only my job to hold the corrupt accountable,” he asked.
In a statement, Inter Services Public Relations (ISPR) said General Bajwa and General Michael Erik Kurilla, Commander United States (US) CENTCOM had a telephonic conversation on Friday.
During the call, ISPR said, matters of mutual interests, regional stability as well as defence and security cooperation were discussed in detail. COAS said that Pakistan values its relations with US and we earnestly look forward to enhance mutually beneficial multi-domain relations based on common interests. Both reiterated the desire to further enhance bilateral relations in all fields.
The statement said, commander US CENTCOM acknowledged the professionalism of Pakistan Armed Forces. He appreciated Pakistan’s role in regional stability and pledged to play his role for further improvement in cooperation with Pakistan at all levels.
