After Saudi Arabia, the United Arab Emirates has also come to Pakistan’s rescue with a $6.2 billion economic deal for the key South Asian country.
Crown Prince Sheikh Mohammed bin Zayed Al Nahyan will unveil the package during his visit to Pakistan beginning Jan 6, Pakistan’s Dawn newspaper reported Saturday.
The massive package will help Islamabad address its balance of payments challenge as the UAE will deposit $3 billion to spur Pakistan’s foreign exchange reserves.
Since Imran Khan took over the reigns of the country, his government has been interacting with the Middle Eastern countries, who have traditionally had strong ties with Pakistan.
Like Riyadh, the UAE will also give Pakistan facility with $3.2bn worth of oil supplies on deferred payment.
Pakistan is also negotiating with the IMF for a possible bailout plan.
Muhammad Luqman is Associate Editor at Views News Now. He writes on wide-ranging issues including economy, South Asia, the Middle East, agriculture, economy and innovation. Luqman has worked some of the leading news organizations and won acclaim for his original and research-based works.
