ISLAMABAD – Pakistan is reportedly seeking $6 billion assistance packagefrom United Arab Emirates akin to Saudi Arabia.
As per the media report, Pakistan has asked for a financial assistancepackage worth $6 billion from the United Arab Emirates (UAE) in the form ofdeferred payment facility for the oil imports and interest-free cashdeposits in the central bank.
A UAE delegation is on a visit to Pakistan under the patronage of Emirates’Minister of State and Chief Executive Officer of Abu Dhabi National OilCompany, Dr. Sultan Ahmad, under the special directions of Crown PrinceSheikh Mohamed bin Zayed Al-Nahyan.
The delegation has come to consider the prospects for projects benefitingboth countries.
According to the Foreign Minister Shah Mehmood Qureshi, both countries arediscussing the possible measures to ‘expand the economic sides oflongstanding bilateral ties.’
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Any official from the government has not revealed the details of theassistance package but the Finance Minister has stated that the discussionshave been fruitful.
Reportedly, Pakistan has sought the assistance on the Saudi Arabian model,i.e., a deposit of $3 billion with the State Bank and $3 billion asdeferred payment facility.
As for UAE, Pakistan has sought an interest-free deposit of $5 billion withthe State Bank along with providing deferred payment oil facility worth of$3 billion.
