ISLAMABAD: Caretaker Prime Minister Anwar Haq Kakar has requested through a letter to the President of the United Arab Emirates for loan rollover, Pakistan’s request to rollover $2 billion loan to UAE
Pakistan has formally requested the UAE to roll over a debt of two billion dollars. According to Ministry of Finance, Caretaker Prime Minister Anwar Haq Kakar has requested through a letter to the President of the United Arab Emirates for loan rollover.
The mission to further stabilize the country’s economy and foreign exchange reserves, Pakistan has formally requested to roll over 2 billion dollars of debt to the United Arab Emirates.
According to the sources of the Ministry of Finance, caretaker Prime Minister Anwar Haq Kakar has written a letter to the President of the UAE to roll over the debt of two billion dollars. The debt of $2 billion from the UAE was maturing in January, According to Ministry of Finance, a total of 3 billion dollars has been deposited in the State Bank, one billion dollars is maturing on January 17 and one billion dollars is maturing on January 23, and through this loan, 3 percent on one billion dollars and more. A billion dollars has a 6.5 interest rate
According to the sources of the Ministry of Finance, the deposit of 2 billion dollars from the UAE is likely to be rolled over soon, and in this regard, talks are ongoing with the Prime Minister’s Office and the Ministry of Finance to roll over the debt
