ISLAMABAD: Prime Minister Shehbaz Sharif will travel to United Arab Emirates (UAE) on January 10 as part of desperate attempt by Pakistan to shore up its depleting foreign reserves.

Official sources confirmed that premier would fly to UAE on Tuesday after his return from Geneva. He will be accompanied by Foreign Minister Bilawal Bhutto Zardari, sources added. It is expected that Army Chief General Syed Asim Munir, who is already on trip to Saudi Arabia and UAE will join PM in talks with rich Gulf state.

As per Inter-Service Public Relations Army Chief is undertaking visit to Saudi Arabia and UAE from January 4 to 10. Though details are not yet clear about what compelled PM Shehbaz to travel to UAE, it is believed visit is linked to worsening economic crises in Pakistan.

Country’s forex reserves held by central bank yesterday fell to $ 4.5 billion hardly enough to finance 25 days of imports after Pakistan returned over $ 1 billion in loans to two foreign commercial banks.

Published in The Daily National Courier, January, 09 2023

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