IMF spells out terms to unlock bailout.

ISLAMABAD -- The International Monetary Fund (IMF) on Monday urged Pakistan to follow the Constitution in order to resolve its political disputes, as Prime Minister Shehbaz Sharif contacted Managing Director Kristalina Georgieva to revive the derailed $6.5 billion bailout package apparently in a last-ditch effort to avoid default.

The discussion between Shehbaz and Georgieva took place on Saturday after the finance ministry could not break the deadlock over the loan talks during the past four months, official sources told The Express Tribune.

Two days after the highest-level contact was established between Shehbaz and Georgieva, IMF Mission Chief to Pakistan Nathan Porter gave an unusual statement, expanding the IMF's focus to the political arena.

'We take note of the recent political developments, and while we do not comment on domestic politics, we do hope that a peaceful way forward is found in line with the Constitution and rule of law.'

The statement came on the heels of an ongoing crackdown against the PTI workers, abductions of people, breach of the 90-day constitutional limit to hold elections in the two provinces and trial of civilians in military courts under the Army Act. Usually, the IMF does not comment on political matters.

In response to questions sent by The Express Tribune, Porter also spelled out the conditions that Pakistan has to meet to reach an agreement with the foreign lender. These include arranging foreign loans, approval of new budget in line with the IMF framework, and restoration of foreign exchange market's proper functioning.

The sources said that the prime minister saw the IMF as the last resort to avoid a default and that was why he decided to intervene. After the conversation with the IMF chief, the prime minister instructed the finance ministry to share details of the next budget with the IMF.

The contact was made a day before Finance Minister Ishaq Dar criticised the global lender again. 'We are at a point where it would be extremely biased and shameful for them [IMF], if the 9th review doesn't take place now,' Dar told a private TV channel.

A top finance ministry official confirmed to The Express Tribune that the prime minister had contacted the IMF managing director and requested her again to play a role in breaking the deadlock.

Earlier, the prime minister had telephoned Georgieva and sought her intervention to start review talks, which eventually took place in February.

Time is against the Pakistani...