Tuesday July 23, 2019
Home Lead Story UAE Signs $3 ...

UAE Signs $3 Billion Support For Pakistan

The two countries earlier in January were said to have finalised the terms and conditions of the support package, which involves $3.2 billion worth of oil supplies on deferred payment in addition to the $3 billion cash deposit

0
//
Imran Khan, Taliban
Pakistan's Prime Minister Imran Khan speaks during a press conference in Putrajaya, Malaysia, Nov. 21, 2018. VOA

Pakistan and the United Arab Emirates (UAE) signed a $3 billion support package on Tuesday as pledged by Abu Dhabi to boost the liquidity and foreign exchange reserves of the cash-strapped country.

The package was signed by Abu Dhabi Fund for Development (ADFD) Director General Mohammed Saif Al Suwaidi and the State Bank of Pakistan Director Tariq Bajwa at a ceremony here.

According to the package, the UAE will deposit $3 billion in the State Bank of Pakistan to support the country’s financial and monetary policy, the state-run WAM news agency reported.

Imran Khan, Sikh
Pakistan’s Prime Minister Imran Khan is seen during talks in Beijing, China. VOA

The amount will be paid to Pakistan in three instalments.

The UAE had announced its intention to inject $3 billion cash into Pakistan via the ADFD in December 2018, a month after Prime Minister Imran Khan undertook his second trip to the country since assuming office.

Also Read- After Jio, Mukesh Ambani is Set to Take on Internet, Video Streaming Giants

The two countries earlier in January were said to have finalised the terms and conditions of the support package, which involves $3.2 billion worth of oil supplies on deferred payment in addition to the $3 billion cash deposit. (IANS)

Next Story

Thousands to Participate in Indian Mission-led Yoga Day Events in UAE

Similar events will be held in Sharjah and Ajman on Friday

0
yoga
Representational image. Pixabay

Thousands of residents will participate in events commemorating the fifth International Day of Yoga led by the Indian missions across the United Arab Emirates (UAE), the media reported on Tuesday.

The Indian Embassy in Abu Dhabi and the Indian Consulate in Dubai, which are hosting the events, said they have received the support of the UAE authorities in all the emirates to host the event, reports Gulf News.

In Abu Dhabi, the event will be held at Umm Al Emarat Park at 7 p.m. on Thursday. Free entry, parking, yoga mats and T-shirts would be provided to all the participants on first-come-first basis.

Shaikh Nahayan Mabarak Al Nahayan, the Minister of Tolerance of UAE, would be the chief guest, said Indian Ambassador to the UAE Navdeep Singh Suri.

During the celebrations, Common Yoga Protocol will be followed with other yoga demonstrations by yoga enthusiasts from different countries.

The demonstrations will be followed by a cultural programme. The embassy will also be celebrating Yoga Day on June 28 at the Jahili Public Park in Al Ain.

yoga
Its time Indians in general and Hindus in particular should be vigilant and should have an academic mind set to respond to such misadventures to protect our own heritage and Dharma. Hindu Council Of Australia

In the run-up to the event, photo shoots of yoga enthusiast performing yoga at iconic locations of Abu Dhabi; Emirates Palace, Etihad Towers and Louvre Abu Dhabi Museum were organised with the support of Department of Culture, Abu Dhabi, the Gulf News reported.

The Indian Consulate in Dubai will hold the main event at Zabeel Park in Dubai at 6.30 p.m. on Friday, Consul General Vipul announced.

Similar events will be held in Sharjah and Ajman on Friday.

Also Read- Poor Oral Health Associated with Liver Cancer: Study

In Umm Al Quwain and Ras Al Khaimah, the celebrations will be held on Saturday.

The International Day of Yoga is celebrated annually since its inception by Indian Prime Minister Narendra Modi in 2015. Events are held across the world to mark the day. (IANS)