Pak Army chief played role in securing funds from Saudi, UAE: PM Sharif

Pakistan's Prime Minister Shehbaz Sharif disclosed that Army Chief General Asim Munir played a role in securing funds from Saudi Arabia and the UAE -- a pre-condition by the IMF to seal a bailout deal

Pakistan's Prime Minister Shehbaz Sharif on Saturday disclosed that Army Chief General Asim Munir played a role in securing funds from Saudi Arabia and the UAE -- a pre-condition by the IMF to seal a bailout deal with the cash-strapped nation.

Addressing a ceremony here, Sharif also expressed hope that now the IMF will not delay in reaching an agreement for USD 1.1 billion sought by Pakistan.

"Chief of Army Staff General Asim Munir has contributed to the government's efforts to secure funds from Saudi Arabia and the UAE," Sharif said.

Debt-ridden Pakistan and the IMF have failed to reach a staff-level agreement on the much-needed USD 1.1 billion bailout package aimed at preventing the country from going bankrupt.

The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations.

Earlier, the Pakistani Army had announced that Gen.