ISLAMABAD: The United Arab Emirates has agreed in principle to a short-term extension (rollover) of Pakistan’s $2 billion deposit for two months.
A senior official has confirmed that the UAE has agreed to rollover the amount for two months until April 17, 2026.
According to sources, the assurance was given when Deputy Prime Minister and Foreign Minister Ishaq Dar contacted top Emirati officials this week.
Senior government sources said that the UAE has given this short-term extension at an interest rate of 6.5 percent, and formal approval from the relevant authorities is expected to be received at any time.
This move by the Emirates is being described as significant from the third review talks between Pakistan and the IMF, and this decision has come at a time when the previous one-month extension was just four days away.
The UAE has been informed that Islamabad will again approach the IMF for a long-term rollover after talks.
ANKARA: Field Marshal Asim Munir held an important meeting with Turkish President Recep Tayyip Erdogan…
ISLAMABAD: The highly controversial Indian movie named 'Satluj' has been the talk of the town…
ISLAMABAD: In view of the increasing tension in the region and the fears of closure…
ISLAMABAD (Rizwan Abbasi): The International Monetary Fund (IMF) has projected that Pakistan’s average inflation rate…
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday strongly condemned the recent attacks on Saudi Arabia,…
KARACHI: The gold prices in Pakistan have been reduced to Rs 424,136 following a reduction…