PM Khan thanks UAE for $3 billion economic assistance
Says this reflects our commitment and friendship that has remained steadfast over the years
Islamabad (Pakistan Point News – 21st December, 2018) Prime Minister Imran Khan has thanked the United Arab Emirates (UAE) to extend economic assistance for Pakistan.
The UAE has announced to give $3 billion to Pakistan.
Following the development, the prime minister tweeted that he wants to thank the UAE government for supporting Pakistan in these testing times.
“I want to thank the UAE govt for supporting Pakistan so generously in our testing times. This reflects our commitment and friendship that has remained steadfast over the years,” he wrote.
According to media reports, the UAE will deposit the amount in the State Bank of Pakistan (SBP) to support the country's financial and monetary policy.
The Abu Dhabi Fund for Development said it will deposit the money over the next few days to enhance liquidity and monetary reserves of foreign Currency at the Bank, Arab media reported on Friday.
Prime Minister Imran Khan had paid a day-long visit to the UAE in November over the invitation of Sheikh Muhammad bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Armed Forces.
Before his arrival in Dubai, the prime minister met the crown prince in Abu Dhabi where the two sides also held delegation level talks. A ceremonial welcome ceremony was also held for the prime minister where he was also given guard of honour.
During the visit, the UAE government had extended generous humanitarian assistance, support for better health and education to Pakistan whenever required.
Moreover, analysts believed, if UAE would provide a bailout package like Saudi Arabia, it would support the government to overcome current account deficit.
In the latest development, the UAE has announced to deposit $3 billion in the SBP.