AIRLINK 60.45 Decreased By ▼ -0.52 (-0.85%)
BOP 6.32 Increased By ▲ 0.03 (0.48%)
CNERGY 4.39 Increased By ▲ 0.06 (1.39%)
DFML 16.00 Increased By ▲ 0.14 (0.88%)
DGKC 69.01 Decreased By ▼ -0.29 (-0.42%)
FCCL 18.09 Decreased By ▼ -0.11 (-0.6%)
FFBL 26.24 Decreased By ▼ -0.01 (-0.04%)
FFL 9.34 Increased By ▲ 0.11 (1.19%)
GGL 10.24 Decreased By ▼ -0.01 (-0.1%)
HBL 115.42 Decreased By ▼ -1.58 (-1.35%)
HUBC 116.06 Increased By ▲ 1.58 (1.38%)
HUMNL 7.03 Increased By ▲ 0.10 (1.44%)
KEL 5.02 Increased By ▲ 0.13 (2.66%)
KOSM 5.68 Increased By ▲ 0.35 (6.57%)
MLCF 38.72 Increased By ▲ 0.22 (0.57%)
OGDC 132.17 Increased By ▲ 8.20 (6.61%)
PAEL 21.76 Decreased By ▼ -0.09 (-0.41%)
PIAA 12.80 Increased By ▲ 1.00 (8.47%)
PIBTL 6.10 No Change ▼ 0.00 (0%)
PPL 119.87 Increased By ▲ 6.12 (5.38%)
PRL 28.17 Decreased By ▼ -0.13 (-0.46%)
PTC 12.08 Increased By ▲ 0.63 (5.5%)
SEARL 51.80 Decreased By ▼ -0.50 (-0.96%)
SNGP 68.77 Increased By ▲ 1.07 (1.58%)
SSGC 11.46 Increased By ▲ 0.13 (1.15%)
TELE 8.19 Increased By ▲ 0.34 (4.33%)
TPLP 11.53 Decreased By ▼ -0.05 (-0.43%)
TRG 72.75 Increased By ▲ 0.94 (1.31%)
UNITY 23.62 Increased By ▲ 0.52 (2.25%)
WTL 1.37 Increased By ▲ 0.08 (6.2%)
BR100 6,790 Increased By 72.9 (1.09%)
BR30 23,078 Increased By 560.6 (2.49%)
KSE100 65,952 Increased By 626 (0.96%)
KSE30 22,417 Increased By 271.6 (1.23%)
Pakistan

UAE has deposited $1bn in Pakistan’s central bank: Ishaq Dar

  • Finance minister says SBP-held foreign exchange reserves have gotten another boost after $2bn inflow from Saudi Arabia
Published July 12, 2023

Finance Minister Ishaq Dar said on Wednesday that the United Arab Emirates (UAE) has deposited $1 billion in Pakistan’s central bank, another boost for the country’s depleting foreign exchange reserves.

“We have gotten the confirmation that the UAE has deposited the amount into the State Bank of Pakistan (SBP),” said Dar in a video message. “Pakistan’s reserves have now increased by $3 billion after the $2 billion from Saudi Arabia.”

“The improved position will be reflected in the reserves on July 14.”

The inflows were committed by the UAE and Saudi Arabia earlier this year, and formed part of the financing assurances needed by the International Monetary Fund (IMF) to complete Pakistan’s ninth review.

While Pakistan’s ninth review remained unsuccessful, the government managed to get staff-level approval for a new nine-month $3-billion Stand-By Arrangement (SBA).

The IMF Executive Board is expected to take up Pakistan’s SBA agenda on July 12 (today).

Comments

Comments are closed.

Johnny Walker Jul 12, 2023 07:23pm
Bhikaree PM and liar Dar are happy.
thumb_up Recommended (0)
KhanRA Jul 12, 2023 08:23pm
Gift, or just another loan?
thumb_up Recommended (0)