ISLAMABAD – Pakistan Foreign Exchange Reserves may witness a sudden rise of$5 billion, it has been reported.
China is expected to deposit $2 billion in Pakistan reserves during themonth of December and more importantly the economic diplomacy with the UAEis also going to show some results as UAE is likely to provide financialassistance worth $3 billion as well.
According to a report in a local newspaper, Pakistan is likely to receivefinancial assistance from China and UAE this month.
A senior official, privy to the development, told the local newspaper thatduring the month of January 2019, the country is most likely to attain a $6billion facility.
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He further added that “UAE will also deposit $3 billion in Pakistan’sexchange reserves, but in installments, and will also extend an oilfacility of $3 billion for deferred payment too.”
China will deposit $2 billion and will most likely do it in one go.However, he said, China wants Pakistan not to highlight its assistance forstrengthening the reserves.
