ISLAMABAD: The United Arab Emirates (UAE) has rolled over a $2 billion loan for Pakistan for 1 month.
According to details, the United Arab Emirates has extended the $2 billion loan rollover for Pakistan by one month.
According to the media reports, the United Arab Emirates has approved the rollover of a $2 billion loan for Pakistan for one month. This amount had matured last month, while the remaining $1 billion is due to mature in July.
Reports say that Pakistan has again requested the United Arab Emirates to roll over the $3 billion loan for one year.
In this regard, a request has been made to roll over all three installments together.
Reports said that the United Arab Emirates has kept $3 billion as a deposit in the Central Bank of Pakistan, which is being used to meet the balance of payment requirements.
Under the terms of the IMF program, Pakistan is required to roll over $12 billion in loans this fiscal year, including a $3 billion loan rollover from the United Arab Emirates.
According to sources, Pakistan is trying to roll over the $3 billion loan received from the United Arab Emirates for one year, so that the terms of the IMF program can be met and pressure on foreign exchange reserves can be reduced.
ISLAMABAD: According to Pakistan Space and Upper Atmosphere Research Commission (SUPARCO), the new moon of…
KOHAT: A residential house collapsed due to heavy rain in the Malgin area of Lachi…
ABU DHUBAI: The United Arab Emirates has prepared a plan to establish a new multi-purpose port…
DUBAI: The International Cricket Council (ICC) is considering plans that could allow the Afghan women's…
ISLAMABAD: Escalating tensions between the United States and Iran have once again unsettled global oil…
ISLAMABAD: Pakistan's energy sector is headed for another high-stakes international commercial arbitration, with Petrosin CNG…