Pakistan seeks $2bn loan rollover from UAE
Business
Deposit of $2 billion from UAE is likely to be rolled over soon
ISLAMABAD (Dunya News) – Pakistan has requested the United Arab Emirates (UAE) to roll over a loan of $2 billion.
According to sources in the Ministry of Finance, caretaker Prime Minister Anwaarul Haq Kakar wrote a letter to the UAE president stating that the loan of $2 billion from the UAE was maturing in January.
Sources said a total of $3 billion were deposited with the State Bank of Pakistan (SBP) by the UAE, of which $1 billion were going to mature on Jan 17 and another $1 billion on Jan 23. They said the interest rate was 3 per cent on first amount and 6.5 per cent on the remaining $1 billion.
Read also: UAE deposits $1bn in SBP, says Ishaq Dar
The deposit of $2 billion from the UAE was likely to be rolled over soon, the sources said.
