ISLAMABAD – UAE government will deposit $3 billion in Pakistan’s reservesin instalments and would provide a $3 billion deferred oil paymentfacility, private media has reported.
The official said the $2 billion to be received from China will come inone-go.
Federal government was also working on purchasing 15 million renminbi’s(Yuan) at a commercial rate at an approximate cost of over $2 billion fortrade with China in domestic currency which will assist Pakistan in easingpressure from the greenback.
Moreover, the official stated the recent statement by Finance Minister AsadUmar that Pakistan was in no hurry to get an International Monetary Fund(IMF) bailout highlights imminent relief from UAE and China to bolsterforex reserves is on the cards.
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He added the finance minister was aware that things were moving in rightdirection with China and UAE and negotiations with both countries havereached an advanced stage highlighting they were coming forth to rescuePakistan from its existing economic quagmires.
