Twirp : Terrorist Wahabi Islamic Republic Pakistan 3

[Naresh]

<b>Pakistan to seek waiver from IMF</b>

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->ISLAMABAD : <b>Pakistan would have to seek waiver from the International Monetary Fund on the targeted expenditure cut</b> under the 23-month standby bailout loaning programme for getting its second tranche through upcoming review next month.

According to well-placed sources, the perpetuation of inflationary pressures despite increase of base interest rate by the central bank to 15 per cent have not allowed the government to cut the current expenditures that keep on rather inflating. <b>So much so that certain Ministries and their Attached Departments are, reportedly, facing blockages of salaries due to cash starvation at the national exchequer.</b>

The sources told TheNation that the extraordinary security situation, both internal and external, had also increased pressures on the overall current expenditures that the government was supposed to cut under the agreement with the IMF. Initially, the internal security was a problem, <b>while unusual movement of the armed forces to stay alert on both western and eastern borders has incurred a lot of additional cost that was never budgeted in the fiscal policy of 2008-09, the sources said.</b><!--QuoteEnd--><!--QuoteEEnd-->

Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->