Pakistan's Imran Khan visits UAE for second time in two months for aid package
Pakistan's Imran Khan visits UAE for second time in two months for aid package
Pakistan's Imran Khan has made a second visit to the UAE during his two-month premiership.
2 min read
Imran Khan has visited the UAE for a second time in two months [Getty]
Pakistan Prime Minister Imran Khan was in the UAE on Sunday, where he was received by powerful Abu Dhabi Crown Prince Mohammed bin Zayed.
Khan's latest visit to the UAE is the second in two months, when he became Pakistan premier and promised to take the country down a new road.
He is seeking a bail-out from Abu Dhabi, following an earlier visit in September, to help Pakistan's economy with details of the agreement expected to be revealed Sunday.
Pakistan's government said it expected to agree a "good package" with the UAE, according to Dawn.
It is said to be comparable to a $6 billion aid package agreed with Saudi Arabia agreed soon after Khan was elected prime minister.
The UAE agreement will include "$3 billion in balance of payments support and a deferred payment facility on oil imports worth $3 billion", according to the Pakistan newspaper.
Khan is also in talks with China for financial assistance, with another loan from the IMF soon to be completed.
The US has threatened to withdraw $2 billion in aid to Pakistan over Islamabad's alleged support for militant groups.
The UAE and Saudi loans are said to be a way of countering the tough conditions set by the IMF on their loan agreement, which is sai to be around $12 billion.
Pakistan has a deficit between $12 to $13 billion this year, and seeking aid to plug the gap with around $6 billion from the IMF and the rest from Gulf states.
Pakistan is a strong, but sometimes shaky, ally of Saudi Arabia and the UAE. Despite close military ties, Islamabad avoided being entangled in the Saudi-led war in Yemen.
Khan's latest visit to the UAE is the second in two months, when he became Pakistan premier and promised to take the country down a new road.
He is seeking a bail-out from Abu Dhabi, following an earlier visit in September, to help Pakistan's economy with details of the agreement expected to be revealed Sunday.
Pakistan's government said it expected to agree a "good package" with the UAE, according to Dawn.
It is said to be comparable to a $6 billion aid package agreed with Saudi Arabia agreed soon after Khan was elected prime minister.
The UAE agreement will include "$3 billion in balance of payments support and a deferred payment facility on oil imports worth $3 billion", according to the Pakistan newspaper.
Khan is also in talks with China for financial assistance, with another loan from the IMF soon to be completed.
The US has threatened to withdraw $2 billion in aid to Pakistan over Islamabad's alleged support for militant groups.
The UAE and Saudi loans are said to be a way of countering the tough conditions set by the IMF on their loan agreement, which is sai to be around $12 billion.
Pakistan has a deficit between $12 to $13 billion this year, and seeking aid to plug the gap with around $6 billion from the IMF and the rest from Gulf states.
Pakistan is a strong, but sometimes shaky, ally of Saudi Arabia and the UAE. Despite close military ties, Islamabad avoided being entangled in the Saudi-led war in Yemen.
More In News
