During a cabinet meeting on Monday, Prime Minister Shehbaz Sharif lauded Chief of Army Staff (COAS) General Asim Munir for his instrumental contribution in securing a substantial $3 billion aid package from Saudi Arabia and the United Arab Emirates (UAE), which played a pivotal role in obtaining the International Monetary Fund (IMF) bailout.
Addressing his cabinet in a televised session, the Prime Minister emphasized General Asim Munir’s pivotal role in procuring $2 billion from Saudi Arabia and $1 billion from the UAE. He highlighted how this financial support had ultimately paved the way for the IMF bailout.
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PM Shehbaz briefed the cabinet on the recent nine-month standby agreement his government had successfully negotiated with the IMF. He expressed gratitude to IMF Managing Director Kristalina Georgieva for her involvement in facilitating the bailout package.
“The first installment of the IMF funds is expected in July,” PM Shehbaz informed the ministers. He also acknowledged China’s prior assistance to Pakistan and mentioned that if Beijing had agreed to roll over $5 billion, the circumstances would have been different.
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