Karachi: Pakistan on Tuesday had received $1 billion from the United Arab Emirates (UAE), which would further improve its balance-of-payment situation.

Adviser to Finance Ministry Dr Khaqan Najeeb Tuesday said that the payment would also help improve the foreign exchange reserves of the country.

Government of Pakistans multi-pronged strategy and credible measures for financing arrangements are yielding (positive) results, said Khaqan Hassan Najeeb in a tweet.

In December, the UAE announced a $3 billion bailout package for Pakistan to overcome its balance of payment issue under the Abu Dhabi Fund for Development.

The agreement was signed between State Bank of Pakistan (SBP) and Abu Dhabi Fund for Development (ADFD).

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