Islamabad , July 12, 2023: Finance Minister Ishaq Dar has said that Pakistan has received $1 billion from the United Arab Emirates (UAE) as part of its financial commitment to help Pakistan secure the International Monetary Fund (IMF) bailout package.
“We have received $1 billion from the UAE. The UAE has deposited the amount into the State Bank account,” the financial czar announced in a televised media address on Wednesday.
Later in a tweet, Dar said the inflow from the UAE has further increased the country’s foreign exchange reserves held by the SBP “and will accordingly be reflected in the forex reserves position for the week ending 14 July 2023”.
On behalf of PM Shehbaz Sharif, Army Chief General Asim Munir and the people of Pakistan, the federal minister extended “heartfelt thanks to the leadership of United Arab Emirates for their great gesture and support by placing said deposit of $1 billion with State Bank of Pakistan!”