IMF asks govt for written pledge of Pak friendly states' financing.

ISLAMABAD -- Pakistan is working to fulfil anothAer prior action of the International Monetary Fund (IMF) to give a writAten commitment from the friendAly countries for external financing during the current fiscal year to reAvive the much needed loan proAgramme. Although, Pakistan has fulAfilled all prior actions of the IMF, but the government faced another conAdition of providing a written comAmitment from the friendly countries for external financing during the current fiscal year.

Friendly countries including SauAdi Arabia and UAE have pledged with Pakistan to deposit two bilAlion dollars and one billion dollars respectively in State Bank of PaAkistan's account. Meanwhile, QaAtar has also shown interest in makAing huge investment by purchasing power plants.

Officials have informed that the government is actively working to fulfil this condition of the Fund.

Pakistan has already briefed the Fund on its plan to increase the forAeign exchange reserves held by the central bank to $10 billion by June this year with the...