Islamabad (Web Desk): Minister for Finance and Revenue Ishaq Dar on Friday said that the United Arab Emirates (UAE) authorities have confirmed to International Monetary Fund (IMF) for their bilateral support of $1 billion to Pakistan.
In a post on shared on his official Twitter handle, the, “UAE authorities have confirmed to IMF for their bilateral support of US $ One billion to Pakistan.”
He added that the State Bank of Pakistan (SBP) is now engaged for needful documentation for taking the said deposit from UAE authorities.
IMF program — 9th Review Update:
— Ishaq Dar (@MIshaqDar50) April 14, 2023
UAE authorities have confirmed to IMF for their bilateral support of US $ One billion to Pakistan.
State Bank of Pakistan is now engaged for needful documentation for taking the said deposit from UAE authorities.
AlhamdoLilah!
Separately, Finance Minister Ishaq Dar on Friday said that the SBP will receive back third and last disbursement today in its account amounting to $300 million from Industrial and Commercial Bank of China (ICBC), which will strengthen local foreign exchange reserves.
In a tweet, the minister said that out of Chinese Bank’s ICBC approved facility of $1.3 billion (which was earlier repaid by Pakistan), State Bank of Pakistan would receive back third and last disbursement today in its account amounting to $300 million.
It will shore up forex reserves of Pakistan, Dar added.
Out of Chinese Bank’s #ICBC approved facility of $1.3 billion (which was earlier repaid by Pakistan), State Bank of Pakistan would receive back third and last disbursement today in its account amounting to $ 300 million.
— Ishaq Dar (@MIshaqDar50) April 14, 2023
It will shore up forex reserves of Pakistan.
AlhamdoLilah!
