145;Pak needs 10-15 bn fast146;

Pakistan is undergoing an annual economic health check-up, which all IMF members have to go through, but it is already in a critical condition, with the central bank holding barely enough foreign currency to cover six weeks of imports.

Islamabad was expected to seek a multi-billion-dollar rescue package from the International Monetary Fund at a meeting between officials in Dubai on Tuesday.

Other donors are expected to help if the IMF paves the way and approves Pakistan8217;s economic strategy.

Pakistan has already approached the World Bank, the Asian Development Bank and bilateral donors, including Saudi Arabia and China, for support. Immediately we don8217;t need more than 10-15 billion, Tarin said.

Inflation in Pakistan is running close to 25 per cent, the budget deficit is unsustainable, government borrowing from the central bank has squeezed liquidity in the banking system, and the international bond market has priced in a debt default.

The talks that are now taking place on Tuesday will ensure that the Fund can act quickly should there come a request from the Pakistani authorities, said a source in Dubai with knowledge of the discussions underway.

Consultations with the IMF were taking place in the Gulf because of a security scare posed by the Taliban and al Qaeda in Pakistan, and were expected for several days.

Last month, an IMF team left Islamabad in a hurry after a suicide bomber killed 55 people and destroyed the Marriott hotel.