UAE HELP PAKISTAN $3 BLN

AN - The United Arab Emirates plans to deposit $3 billion in Pakistan's central bank "in the next few days", the UAE state news agency WAM reported on Friday, while a Pakistani official said Islamabad also hopes it will allow deferred payments for oil supplies.

Pakistan is battling to bring under control a gaping current account deficit that's wobbled its economy and lowered growth.

Islamabad is engaged in bailout talks with the International Monetary Fund (IMF) but has also sought financial help from allies China and Saudi Arabia.

The UAE deposit is aimed at supporting Pakistan's monetary policy, WAM said, citing the state-run Abu Dhabi Fund for Development.

Hours after the WAM announcement, Pakistani Information Minister Fawad Chaudhry told Reuters that Islamabad was "also hoping to get deferment for oil payments" from UAE.

Chaudhry declined to disclose the sum of assistance sought through deferred payments, but said this was part of the discussions that led to the UAE announcing it would deposit $3 billion with Pakistan's central bank.

The minister added that the UAE planned to make investments in Pakistan, including a refinery and desalination plants.

In October, Saudi Arabia said it would loan Pakistan $6 billion, including a $3 billion deposit for its foreign currency reserves and another $3 billion in deferred oil payments.

China, Pakistan's staunchest ally and financial benefactor, has also pledged to help but has not announced the size of any assistance package.

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Earlier: 

2018, December, 17, 10:15:00 QATAR'S LNG FOR PAKISTAN TP - With fast growing demand and expanding gas receiving capacity in Pakistan, the South Asian nation is expected to source more liquefied natural gas (LNG) from Qatar, said the country’s visiting Finance Minister Asad Umar.

2018, November, 19, 11:05:00 SAUDIS, PAKISTAN INVESTMENT: $6 BLN ARAB NEWS - Saudi Arabia has shown investment interest in Pakistan’s largest coastal refinery, a multibillion-dollar project being set up at Khalifa Point, near Hub, Balochistan, officials have confirmed.

2018, October, 24, 11:15:00 SAUDIS - PAKISTAN SUPPORT: $6 BLN REUTERS - Saudi Arabia has agreed to give Pakistan $3 billion in foreign currency support for a year and a further loan worth up to $3 billion in deferred payments for oil imports to help stave off a current account crisis, Pakistan’s government said on Tuesday.

2018, September, 28, 09:50:00 PAKISTAN - RUSSIA GAS PIPELINE: $10 BLN ET - In a major breakthrough, Pakistan and Russia are set to sign a $10-billion offshore gas pipeline deal on September 27 in Moscow, a project planned by the latter to capture the energy market of Pakistan.

2018, August, 10, 10:40:00 TAPI PIPELINE FOR CHINA REUTERS - Originating at the giant Galkynysh gas field in Turkmenistan, the $9.6 billion TAPI (Turkmenistan, Afghanistan, Pakistan and India) pipeline involves the four countries’ own energy companies, and would carry 33 billion cubic metres (bcm) of gas a year.

2018, March, 18, 11:35:00 IAEA - PAKISTAN COOPERATION IAEA - IAEA Director General Yukiya Amano commended efforts by Pakistan to increase nuclear safety and security as the country works to triple its nuclear power capacity. Prime Minister Shahid Khaqan Abbasi commended the IAEA for the support provided to Pakistan in the use of peaceful nuclear applications. Pakistan “was ready to further strengthen its partnership with the IAEA and contribute towards the achievement of the Sustainable Development Goals worldwide,” the Prime Minister said.

2018, February, 27, 13:35:00 RUSSIAN GAS FOR PAKISTAN GAZPROM - The parties discussed the prospects for bilateral cooperation, including the potential for supplying LNG from the Gazprom Group’s portfolio to Pakistan, as well as collaborating in hydrocarbon exploration and production in the country. Русский | English