Another $1bn from UAE received: State Bank of Pakistan
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KARACHI: Pakistan has received another $1 billion from the United Arab Emirates on Tuesday, said the State Bank of Pakistan.
This was second tranche of $3bn promised by the Emirates.
The SBP on March 9 reported it had signed an agreement with the Abu Dhabi Fund for Development (ADFD) for $2bn which would be placed in its account.
Pakistan had already received the first tranche of $1bn in January as part of the agreement with ADFD.
Published in Dawn, March 13th, 2019
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Comments (35) Closed
Mar 13, 2019 09:05am
IK breaks all records of loan taking.
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Mar 13, 2019 09:08am
What did we do with last billion?
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Mar 13, 2019 09:22am
The future generation has to pay it...
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Mar 13, 2019 09:26am
Loans received. Please note it is not free. It has cost attached to it. Treat loan as medicine not permanent solution. Trade/Balance of payment deficit will soon erode this million dollars loan. How/what measures will be adopted to address deficits. What are our surpluses that have the potential to export. Which task force is looking this aspect. Any incentive for public to enhance the production of such products. You have birgade of Ministers and it is their job to work and highlight these aspects to general public. Depression mounting high in the public. Do something before it is too late.
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Mar 13, 2019 09:27am
It is not free and loan with interest.
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Mar 13, 2019 09:31am
This is not a loan just a collateral that allows you to borrow
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Mar 13, 2019 09:32am
Pakistan's external debt crossed 100 billion dollars.. looks scary ...
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Mar 13, 2019 10:26am
@Lahore Vivek, IK is working for the present least bothered what the country faces after a few years when the country will have to repay with interest and when he will not be at the helm of affairs. The next PM will start the process again
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Mar 13, 2019 10:47am
@Mohan , India breaks all records of loan taking from world Bank. Indian debt $650 billion heading to a $ trillion.
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Mar 13, 2019 10:48am
Always the same comments. Did someone look how many loan did India take and is taking, please look the official listd? They are the real winners.
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Mar 13, 2019 10:48am
@Lahore Vivek, if pakistan debt looks scary, think of Indias debt of $650 billion. That is a nightmare that is getting worse. The 1$ trillion debt is looming.
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Mar 13, 2019 10:50am
@MG, Oil exploration, shelters for poor, Thar medical facilities, solar power in sind, strenghtening exporters facilities. Lots more.
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Mar 13, 2019 10:59am
@Mohan , that is why people are living peacefully in Pakistan...
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Mar 13, 2019 11:20am
@Zak, so much concerned for India.
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Mar 13, 2019 11:30am
Fire works and feast for all tonight. There is money in the bank. So what if it’s loan and has to be paid back with interest (at least I hope that is the intention) celebrate today at least. Tomorrow is another day. Congratulations! Ps: never thought someone getting a loan will be such an occasion for congratulations.
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Mar 13, 2019 11:40am
@Zak, India took loan from world bank which is very cheap and India has to pay this loan amount after 30 years.only bankrupt countries takes loan from IMF.
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Mar 13, 2019 11:40am
@Zak, India is taking loan for development projects not for survival of the country
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Mar 13, 2019 11:53am
@Zak: India is 5th Largest Economy in the World and after 2030 will be second after US and China
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Mar 13, 2019 11:57am
@Zak, India is budget deficit is 63 billion USD which is 3.5% of GDP
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Mar 13, 2019 12:18pm
@MG, Already moved to Swis and foreign bank account..
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Mar 13, 2019 12:18pm
@Zak, You can say 1 million billion $
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Mar 13, 2019 12:24pm
@Zak, Your Economic Condition is very down by taking Multiple Loans without assuring to return any single penny & Getting Huge Loan is biggest achivement for Pakistan every time...
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Mar 13, 2019 12:27pm
@Zak,
Where did you get these figures ?.. mention the link/websits.
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Mar 13, 2019 01:32pm
@Zak, loan taking is not bad, just that it should be used for capital expenditure and not for revenue expenditure. Moreover its the country's ability to pay back which matters.
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Mar 13, 2019 02:33pm
@Zak, Debt in terms of percentage of gdp should be considered.
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Mar 13, 2019 03:55pm
@Zak, India earns way too much & India doesn’t take loans to pay interests ... India takes loans to build its infrastructure & boost economic growth
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Mar 13, 2019 04:13pm
@Zak, OK, we will make u feel happy ............ Pakistan will be better off asking for a loan of 1 trillion dollars
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Mar 13, 2019 04:16pm
lets celebrate this grant of a loan ....
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Mar 13, 2019 06:54pm
Wish IK get some better team. IMF was and still is a better option, they give you sweet deal on interest but the only problem is you might have to put few notches up on gas and electricity. It still is better than getting loans from uae and saudia where you are paying around 3%. Sell steel mills, PIA and whatever distribution you have in electricity, you will have enough money. Hate to see country going down with these stupid cronies of IK.
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Mar 13, 2019 07:35pm
Great achievement of IK. He should start exploring such loan options with rest of Muslim countries as well.
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Mar 13, 2019 08:13pm
@MG, -it was spent to defend the soverignity of the country.
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Mar 13, 2019 09:26pm
That 3 billion will become additional 30 billion loan in 10 years
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Mar 13, 2019 09:47pm
Party tonight?
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Mar 13, 2019 10:43pm
China promised billions not yet reached or there is any condition not to announce.
Still there many poor countries, Pakistan should help them, those countries not getting donation or loan.
Afghanistan needs Pakistan help.
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Mar 14, 2019 06:00am
Loans are added as FDI in sbp forex reserve!!!
Strange thing happens only in Pakistan
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