UAE rolls over $2bn loan, approves addition $1bn

News Image

MG News | January 12, 2023 at 03:28 PM GMT+05:00

0:00

January 12, 2023 (MLN): The President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed on Thursday agreed to roll over the existing loan of $2 billion and provide $1bn additional loan, said a press statement released by Prime Minister Office (PMO) revealed. 

This development came during the meeting between Prime Minister Muhammad Shehbaz Sharif and the President of UAE in Abu Dhabi today.

Both sides agreed to deepen the investment cooperation, stimulate partnerships and enable investment integration opportunities between the two countries. 

They also expressed satisfaction with the pace of steady progress in bilateral relations. They agreed on the importance of enhanced bilateral exchanges and regular dialogue at all levels to further solidify and provide momentum to the relationship.

The two leaders discussed the fraternal relations existing between Pakistan and the UAE; and explored ways and means to further strengthen these ties, especially in the fields of trade, investment, and energy. They also had an exchange of views on regional and international issues of mutual interest. 

safe to say that this assistance comes at a time when Pakistan is in dire need of foreign exchange. 

At present, foreign exchange reserves held by the State Bank of Pakistan (SBP) dropped by $245 million to $5.57 billion during the week ended on December 30, 2022.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,945.00 119,740.00
118,145.00
650.00
0.55%
BRENT CRUDE 73.13 73.18
71.75
0.62
0.86%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.94 69.99
68.45
0.73
1.05%
SUGAR #11 WORLD 16.47 16.58
16.37
-0.12
-0.72%

Chart of the Day


Latest News
July 30, 2025 at 05:54 PM GMT+05:00

Pakistan BCI decreased by 1.2 points in July


July 30, 2025 at 05:17 PM GMT+05:00

Pakistan consumer confidence falls to 40.1 points in July


July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD


July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg