Pakistan 'requests' UAE to rollover $2bn loan
- By Web Desk -
- Jan 09, 2024
ISLAMABAD: Pakistan ‘requested’ United Arab Emirates (UAE) for rollover of $2 billion loan, which is getting mature in the current month of January, ARY News reported, citing finance ministry sources.
As per details, Caretaker Prime Minister Anwaar-ul-Haq Kakar has penned a letter to the UAE President Sheikh Mohammed bin Zayed al-Nahyan, seeking rollover of the loan.
Read more: UAE rolls over $2bn loan to Pakistan: Ishaq Dar
Overall UAE kept $3 billion as a safe deposit in the State Bank of Pakistan out of which $1bn is getting mature on January 17 and the other $1 bn will mature on January 23, the sources said.
Pakistan is hoping for the rollover of the 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 the then-prime minister Shehbaz Sharif’s request, who also held a meeting with the Emirates president.