The government took the decision after friendly countries did not bail it out even though Khan himself went to Saudi Arabia with a "begging bowl", the Express Tribune reported. Umar said talks with the IMF will start immediately as Khan approved the decision after consultations.

China to sell 48 high-end drones
China will sell 48 high-end armed drones to its "all-weather ally" Pakistan. The cost of the major defence deal was not revealed. The drones will also be jointly manufactured by China and Pakistan.

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IMF: Pak has not approached us
The International Monetary Fund said Tuesday Pakistan has not approached the body to begin negotiations for a possible bailout to stem a balance of payments crisis, hours after Islamabad announced it will enter talks. "We have not been formally approached yet," said Maurice Obstfeld, the IMF's top economist.

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