PM Shehbaz convenes NSC meeting tomorrow

ISLAMABAD, April 06 (SABAH): Prime Minister Mian Muhammad Shehbaz Sharif has convened National Security Committee (NSC) meeting tomorrow (Friday) amid ongoing political, economic and terrorism challenges.

According to media reports, the meeting will be attended by cabinet members, services chiefs and others. Sources said the heads of the intelligence agencies would brief the participants on overall security situation in the country.

They would also give briefing on security situation in Khyber Pakhtunkhwa and Punjab where the Election Commission of Pakistan (ECP) has announced elections on May 14 in line with the orders of the Supreme Court of Pakistan.

Sources added that the ongoing economic turmoil would also come under discussion as the South Asian country is reeling under record inflation amid delay in revival of the loan programme with the International Monetary Fund (IMF).

Pakistan’s loan programme is yet to materialize months after it imposed additional taxes and increased energy prices and allowed free floating of currency to meet conditions laid forth by the IMF. The nation has missed multiple deadlines to revive the deal. The Washington-based lender has asked the cash-strapped Pakistan to seek commitments for new loans from Saudi Arabia and the United Arab Emirates (UAE) before it releases the funds.

However, hopes have rekindled for receiving the much-needed loan tranche stalled since last year as the global lender confirmed that it had received assurance from Saudi Arabia for providing new loan worth $2 billion to Pakistan.

Reports said the Kingdom is yet to make an official announcement in this regard. It is expected that the Saudi government would announce the new loans for Pakistan during upcoming visit of Prime Minister Shehbaz Sharif.

Pakistan is now looking towards the UAE to secure another $1 billion deposit in order to reach the staff-level agreement (SLA) with the IMF.