Pakistan ‘requests’ UAE to rollover $2bn loan

Business Jan, 9 2024

ISLAMABAD: Pakistan ‘requested’ United Arab Emirates for rollover of $ 2 billion loan, which is getting mature in current month of January. As per details, caretaker Prime Minister Anwaarul Haq Kakar has penned letter to UAE President Sheikh Mohammed bin Zayed al-Nahyan, seeking rollover of loan.

Overall UAE kept $ 3 billion as safe deposit in State Bank of Pakistan out of which $ 1 billion is getting mature on January 17 and other $ 1 billion will mature on January 23, sources said. Pakistan is hoping for rollover of loan from UAE soon. It is to be noted that UAE on January 18, 2023, also rolled over Pakistan’s loan of $ 2 billion on then-Prime Minister Shehbaz Sharif’s request, who also held meeting with Emirates President.

Published in The Daily National Courier, January, 10 2024

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Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.