During a press conference, Finance Minister Ishaq Dar announced that the United Arab Emirates (UAE) has transferred one billion dollars to Pakistan. The funds have been deposited in the State Bank’s account, confirming the receipt of the amount on behalf of the UAE.
Expressing gratitude on behalf of Prime Minister Shahbaz Sharif, Army Chief General Asim Munir, and the people of Pakistan, Ishaq Dar extended his appreciation to the leadership of the UAE for their support.
Furthermore, the finance minister highlighted that a total of 3 billion dollars has been received from Saudi Arabia and the UAE, which will significantly improve the reserves of the State Bank.
Yesterday, Saudi Arabia also deposited 2 billion dollars in the State Bank, reinforcing the country’s financial position.
It is important to note that the Ministry of Finance has reached an agreement on external financing with the International Monetary Fund (IMF). The IMF has accepted the financing gap plan of 8.2 billion dollars proposed by the ministry.
According to sources within the Ministry of Finance, Pakistan is set to receive financing from various sources, including the IMF, World Bank, Asian Development Bank, China, Saudi Arabia, and the UAE. China will provide 3.5 billion dollars in financing during the current financial year, as outlined in the ministry’s plan.
The plan also includes obtaining 2 billion dollars from Saudi Arabia, one billion dollars from the UAE, 500 million dollars from the Asian Development Bank, and 500 million dollars from the World Bank, all aimed at addressing Pakistan’s financial requirements and strengthening its economy.
