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.
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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.
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