Pakistan to pay $2 billion to UAE after arranging alternative funds

ISLAMABAD: Pakistan is expected to repay $2 billion to the United Arab Emirates using finances sourced from other channels, as per reports from government officials.

It was disclosed that Pakistan would be facing total external payments amounting to $4.8 billion before the end of June. The government has made the necessary arrangements in terms of finances. According to these arrangements, Pakistan would be repaying $2 billion to the UAE, and other repayments are being planned.

Furthermore, Pakistan is also expected to repay a $1.3 billion Eurobond by the end of this week since the bond has reached maturity, having served its ten-year term.

It was also reported that Pakistan had to repay an amount of $3.5 billion to the UAE using various financial arrangements. It was assured that more than $5 billion in finance had been provided by two friendly nations of Pakistan.

This information came at a time when Pakistan was struggling with managing its external debts.

Pakistani officials have refrained from commenting on any proposed framework for ending the ongoing US-Israeli war against Iran.

Pakistan’s Foreign Ministry spokesman, Mr. Tahir Hussain Andrabi, speaking to Al Jazeera, refused to confirm or deny any proposed framework for ending the ongoing US-Israeli war against Iran.

The Foreign Office spokesperson said that there have been several reports regarding the offer of a 45-day ceasefire or a 15-point exchange, but we do not comment on individual and specific matters. Our clear position is that the peace process is ongoing.