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Pakistan will get financial assistance of $ 5 billion (about Rs 46,500 crore) from Saudi Arabia and Qatar. This help is coming at a time when the country has to pay 3.5 billion dollars (about Rs 29,000 crore) to UAE by the end of this month.
According to Dawn report, this help is considered important to handle the weak foreign exchange position of Pakistan. UAE had recently made changes in the loan rollover policy. After this, Pakistan decided to repay UAE’s loan of $3.5 billion by April.
According to the fixed schedule, Pakistan has to pay the last installment of this loan by 23 April. This means only 11 days are left to repay the loan. Apart from this, Pakistan has to repay a total of about $4.8 billion in April, which also includes a big bond.
Pakistan Prime Minister Shebaz Sharif meeting the Emir of Qatar Sheikh Tamim bin Hamad Al Thani in Doha. The photo is of October 31, 2024.
IMF’s condition for maintaining money in Pakistan
IMF has started a 3-year program to handle the poor economic condition of Pakistan, under which it will get assistance of about 7 billion dollars.
In return, IMF has set a condition that Pakistan’s big lenders Saudi Arabia, China and UAE will keep their loan money in Pakistan for 3 years, that is, they will not withdraw the money. According to reports, Qatar may replace UAE in future.
UAE’s money has to be paid by the end of April
UAE has recently changed the policy of loan rollover and started short-term extension, which increased the pressure on Pakistan for early repayment. After this, Pakistan decided to repay UAE’s loan of 3.5 billion dollars i.e. about Rs 29,000 crore in different installments on 11, 17 and 23 April.
This decision has been taken at a time when a large part of the country’s foreign exchange reserves is already dependent on the help of other countries.
Pakistan had received this loan at different times. UAE had given a loan of $2 billion in 2018, which was extended repeatedly. Another $1 billion was given in 2023, so that Pakistan could meet the IMF conditions.
Shehbaz Sharif with UAE’s Sheikh Mohammed bin Zayed Al Nahyan. The photo is of June 12, 2025.
Partnership between Saudi Arabia and Pakistan
Partnership between Saudi Arabia and Pakistan has been going on for a long time. Earlier, Aurangzeb had met Saudi Finance Minister Mohammad bin Abdullah al-Zadan in Islamabad. He also met Prime Minister Shehbaz Sharif.
After this meeting the officials called it positive. The two leaders discussed bilateral relations and economic cooperation. Aurangzeb also expressed his desire to meet again in Washington.
Saudi Arabia has already been providing financial assistance to Pakistan. So far he has advanced deposits worth $5 billion.
Meanwhile, Saudi Arabia on Saturday confirmed that the first batch of Pakistan Air Force staff, fighter jets and support aircraft have reached Saudi Arabia’s King Abdulaziz Air Base. This deployment has been done under a joint defense agreement between the two countries.
Shehbaz Sharif with Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud.
Pakistan Finance Minister on visit to Washington for IMF meeting
Meanwhile, Pakistan’s Finance Minister Muhammad Aurangzeb is on a visit to Washington. He will participate in the spring meeting of IMF and World Bank to be held from 13 to 18 April.
He will participate in more than 50 high-level meetings during his tour. These will include IMF, World Bank, investors and representatives of many countries.
According to Dawn, Aurangzeb will also meet representatives of China, Saudi Arabia, UAE, Turkey and Britain. He will also participate in the G24 Finance Ministers Meeting and Climate Action Forum.
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