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Pakistan fails to secure $3.2 billion UAE oil facility

Cash-strapped Pakistan has reportedly failed to secure $3.2 billion oil on deferred payment facility from the UAE. The oil facility on deferred payment was part of the $6.2 billion package announced by the UAE to help Pakistan overcome the serious economic crisis. The financial aid was announced in December. The UAE has already transferred $2 billion cash into the accounts of State Bank of Pakistan and the balance $1 billion was also expected soon. The reasons for the cancellation of the oil facility were not known immediately.

Read More at Times of India News date : 16 Mar 2019, Saturday

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