Pakistan rejects misleading commentary on UAE deposits, reaffirms partnership

Pakistan’s Ministry of Foreign Affairs has categorically rejected recent misleading reports regarding financial deposits from the UAE held with the State Bank of Pakistan (SBP).

The ministry clarified that the deposits were placed under bilateral commercial agreements, reflecting the UAE’s strong support for Pakistan’s economic stability.

The matured deposits are being returned to the UAE as part of a routine financial transaction, and any attempt to portray it otherwise is erroneous and misleading, the statement added.

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Strong, enduring UAE-Pakistan ties

Pakistan and the UAE share a longstanding, fraternal partnership, encompassing trade, investment, defence, and people-to-people ties.

The relationship has grown stronger over the years, with Pakistan recognising the pivotal role of His Highness, the late Sheikh Zayed bin Sultan Al Nahyan, in fostering this enduring friendship.

The Pakistani government reiterated its commitment to further strengthening bilateral ties for a shared and prosperous future.

Finance Ministry reassures stability

Earlier, the Ministry of Finance noted on X (formerly Twitter) that it is continuously monitoring and managing Pakistan’s external flows to ensure stable foreign exchange reserves.

The ministry reiterated that the government remains committed to fulfilling all external obligations, dismissing speculation and media commentary regarding the country’s external finances.