Save Our Pak
Islamabad: The United Arab Emirates (UAE) has extended the rollover of Pakistan’s $2 billion loan for another two months, providing temporary financial relief to the country.
According to details, the UAE has postponed the repayment of the $2 billion loan given to Pakistan, allowing the government extra time before the amount becomes due.
Sources from the Ministry of Finance said that earlier, the UAE had rolled over the same loan for only one month. That extension was set to expire on February 16 and February 22. Now, the repayment deadline has been pushed further to April 16 and April 22.
Sources added that the Government of Pakistan had originally requested a two-year rollover of the loan. After the first extension period ended, the government submitted another request, which led to this new two-month extension.
Officials said the purpose of this extension is to help Pakistan successfully complete its economic review with the International Monetary Fund (IMF). Once the review process is finalized, the government plans to hold further talks with the UAE regarding loans and other financial matters.
Reported by Save Our Pak
