Dubai government will urge the holders of a bond due for repayment in December to agree to a delay, bankers said.

The new chief restructuring officer of Dubai World will contact the bondholders of an upcoming $4 billion Islamic bond issue from real estate developer Nakheel, the Financial Times has reported.

The government needs to gain the agreement of the holders of three-quarters of the bond’s value. Dubai is also contemplating a press campaign, said sources.

“Dubai has scarce liquidity now and resources need to be deployed carefully over the coming years. It can’t just bail out Nakheel,” one banker was quoted as saying by the Financial Times.

These plans have surfaced after talks about how Abu Dhabi, the oil-rich capital of UAE, may support Dubai to ease out of the crisis.