{"id":100928,"date":"2024-12-31T12:03:13","date_gmt":"2024-12-31T07:03:13","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=100928"},"modified":"2024-12-31T12:03:17","modified_gmt":"2024-12-31T07:03:17","slug":"ubl-grants-gop-million-dollar-loan","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/ubl-grants-gop-million-dollar-loan.html","title":{"rendered":"Critical loan backed by UBL supports Pak\u2019s fiscal stabilisation efforts"},"content":{"rendered":"\n<p>Karachi<em>:<\/em> United Bank Limited (UBL) has facilitated a USD 300 million short-term loan for the government of Pakistan to support external debt repayments. The arrangement was made through UBL\u2019s branches in the UAE and Bahrain, as detailed in a press release issued on December 31.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/pm-to-announce-uraan-pakistan.html\" target=\"_blank\" rel=\"noreferrer noopener\">Future in Focus: PM to Announce \u2018Uraan Pakistan\u2019 Tomorrow<\/a><\/p>\n\n\n\n<p>According to the details, the loan comes at a critical time as Pakistan seeks to address its fiscal challenges, including rolling over debt from China and other countries. Despite an increase in remittances and exports, the country requires at least USD 14 billion to meet its external debt obligations during the fiscal year 2024-25, alongside a target of USD 13 billion in foreign reserves for the State Bank of Pakistan (SBP) by the end of FY25.<\/p>\n\n\n\n<p>UBL, which boasts international assets exceeding USD 2.4 billion, highlighted the transaction as evidence of its capacity to execute complex, high-value financial solutions. The bank underscored its ability to offer seamless and reliable services domestically and internationally. This financial arrangement aligns with commitments made to the International Monetary Fund (IMF) under the USD 7 billion Extended Fund Facility. <\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/overseas-pakistanis-get-real-estate-tax-relief.html\" target=\"_blank\" rel=\"noreferrer noopener\">Overseas Pakistanis get real estate tax relief under new FBR initiative<\/a><\/p>\n\n\n\n<p>The SBP has also been purchasing dollars from the domestic market to maintain reserve levels required by the IMF. As of December 26, SBP reserves stood at USD 11.853 billion following an outflow of USD 228 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: United Bank Limited (UBL) has facilitated a USD 300 million short-term loan for the government of Pakistan to support external debt repayments. The arrangement was made through UBL\u2019s branches in the UAE and Bahrain, as detailed in a press release issued on December 31. Read: Future in Focus: PM to Announce \u2018Uraan Pakistan\u2019 Tomorrow According to the details, the loan comes at a critical time as Pakistan seeks to address its fiscal challenges, including rolling over debt from China and other countries. Despite an increase in remittances and exports, the country requires at least USD 14 billion to meet its external debt obligations during the fiscal year 2024-25, alongside a target of USD 13 billion in foreign reserves for the State Bank of Pakistan (SBP) by the end of FY25. UBL, which boasts international assets exceeding USD 2.4 billion, highlighted the transaction as evidence of its capacity to execute complex, high-value financial solutions. The bank underscored its ability to offer seamless and reliable services domestically and internationally. This financial arrangement aligns with commitments made to the International Monetary Fund (IMF) under the USD 7 billion Extended Fund Facility. Read: Overseas Pakistanis get real estate tax relief under new FBR&hellip;<\/p>\n","protected":false},"author":88,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[34475,46457],"persona":[],"class_list":{"0":"post-100928","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-pakistan-economy","9":"tag-united-bank-limited-ubl","10":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UBL Grants GOP Million Dollar Loan - Zameen News<\/title>\n<meta name=\"description\" content=\"UBL arranged a USD 300 million short-term loan for Pakistan\u2019s government to aid external debt repayments. 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