UAE may roll over another $1b loan

ISLAMABAD:

There is a possibility that the United Arab Emirates (UAE) will roll over another $1 billion loan to Pakistan. In January, a $2 billion loan had already been rolled over for one year.

According to sources in the Ministry of Finance, the UAE has provided Pakistan with $3 billion in deposits, of which only $1 billion remains to be rolled over.

PM Shehbaz Sharif will write a letter to the president of the UAE, requesting the rollover of the $1 billion deposit upon his return from a visit to China.

The Ministry of Finance has completed the necessary work regarding this matter. According to sources, the $1 billion deposit is likely to be rolled over before maturity.