Shehbaz Sharif seeks UAE's billion-dollar loan extension

Pakistan is on the verge of a significant financial boost as the United Arab Emirates (UAE) signals a potential extension of a billion-dollar loan rollover. This development comes on the heels of a recent successful rollover of a two-billion-dollar loan obtained for a year in January. According to sources within the Ministry of Finance, the UAE has already disbursed three billion dollars to Pakistan, leaving just one billion dollars pending for rollover.

Prime Minister Shehbaz Sharif, following his recent trip to China, is anticipated to personally engage with the UAE President to formally request the extension of the remaining one-billion-dollar deposit. The Ministry of Finance has finalized its preparations for this request. Insider information indicates a high probability of the rollover being approved well before the deposit's maturity date, underscoring the UAE's unwavering confidence and backing for Pakistan's economic stability and growth endeavors.

The potential extension of the billion-dollar loan rollover from the UAE stands as a crucial development for Pakistan's financial landscape. This move not only underscores the strong bilateral relations between the two nations but also signifies a vote of confidence in Pakistan's economic trajectory. As Pakistan navigates its path towards sustainable growth, this financial support from the UAE is poised to play a pivotal role in bolstering the country's economic resilience and stability.