ISLAMABAD:  The International Monetary Fund (IMF) Executive Board has announced that it will not consider Pakistan's request for a $7 billion bailout package during its meeting scheduled for September 4. This decision means that the crucial approval of the loan will not be part of the agenda for the current week.

The IMF's Executive Board meeting schedule, released recently, does not include any discussion related to Pakistan's substantial financial aid request. This delay has raised concerns in Pakistan about securing the necessary funding to stabilize its economy.

Despite the setback, Pakistan's Finance Ministry remains optimistic about a positive outcome. Officials are hopeful that the IMF will review and potentially approve the bailout package within the month of September. The delay, however, has intensified efforts by the Pakistani government to seek alternative financial support.

In response to the immediate funding needs, Pakistan is actively engaging with several key international partners. The government is in discussions with China, Saudi Arabia, and the United Arab Emirates to roll over existing loans totaling $12 billion. This move aims to address the short-term financing gap and bolster the nation’s economic stability.

Additionally, Pakistan has requested a $1.2 billion loan from Saudi Arabia to help cover a $2 billion financing gap. The successful negotiation of this loan is seen as critical in bridging the immediate financial shortfall and easing pressure on the country’s economy.

The IMF's delayed review has underscored the urgency for Pakistan to secure alternative financial solutions while it awaits a decision on the proposed bailout package. The Finance Ministry continues to work on various fronts to ensure that Pakistan can navigate its current economic challenges effectively.