The recent visit of Army Chief General Qamar Javed Bajwa to Qatar, a few days prior to the United Arab Emirates (UAE) pledge to release $ 3 billion to Pakistan to help a friend at a critical time, is just coincidental, well-informed sources told Business Recorder. The official announcement came from the UAE embassy in Islamabad on December 22, 2018 whereas the Army Chief was in Doha on December 18, 2018 to participate in the National Day of Qatar.
The UAE has not yet deposited the pledged amount of $ 3 billion in the State Bank of Pakistan (SBP) due to which dollar has begun to strengthen against the rupee. However, an official on condition of anonymity told Business Recorder that the UAE is likely to deposit a part of the pledged amount within a couple of days.
Insiders claim that the UAE pledged the amount in consultation with Saudi Arabia after the latter agreed to extend a package of $ 6 billion to Pakistan - $ 3 billion as bank deposit for one year and $ 3 billion oil as deferred oil payment. The UAE is expected to give the same amount as Saudi Arabia.
Though there was no official confirmation, insiders maintain that Saudi Arabia and the UAE do not want Pakistan to seek or accept financial assistance from Qatar, as a standoff between them is continuing. There is however intense speculation in the capital that Qatar will extend $ 6 billion package to Pakistan but no official is ready to confirm or deny this.
Pakistan is trying to get a better share in manpower exports to Qatar which is reflected from the fact that Qatar has opened its visa office in Islamabad. Pakistan is also likely to provide security to Qatar during the football World Cup.