The loan approval has been pending since June, said the source, who declined to be identified because they were not authorized to speak to the media. Pakistan’s next fiscal year begins in July.
“The main problem is the strategic plan for debt management in the energy sector and price review,” said the source. “These actions are pending on our side.”
The World Bank and the Ministry of Finance did not immediately respond to requests for comment.
The South Asian country of 220 million is still afraid because of the devastating floods that caused a loss of more than $ 30 billion. Foreign currency reserves owned by State Bank of Pakistan fell to $4.3 billion earlier this month, barely enough for three weeks of imports.