Pakistan Government is trying hard to get financial help from the International Monetary Fund. The country is facing grim financial situation and has sought help with $300 million loan from the World Bank (WB). The loan had been approved but stalled after the opposition of IMF. As per the reports of BBC, the International Monetary Fund is not in the favor of providing financial help to Pakistan to repay its debts.

Pakistan's foreign currency reserves are continuously falling at a rate of $1.0 billion per month. The country needs around $15.0 billion from foreign lenders to restore normalcy in the financial system.

Dr. Farzana Shaikh of London-based think-tank, Chatham House said that the country needs to cut its defense budget expenditure. But it would be difficult for the country due to the resentment of its army.

Pakistani President Asif Ali Zardari would be leaving for the United States in the second week of next month to avail help from international financial institutions.

Meanwhile, Pakistani currency further declined to 81.16 against US dollar from 81.45 late on Monday. The Karachi-listed KSE-30 Index closed flat at 10,003.99 points.