UAE to lend $ 3 billion to shore up Pakistan's foreign reserves

Pakistan is hoping the United Arab Emirates will offer further financial support through deferred oil payments, a senior official said on Friday, hours after the UAE announced it would lend $3 billion to shore up Pakistan's foreign reserves.

"We are also hoping to get a deferment for oil payments," Pakistani Information Minister Fawad Chaudhry told Reuters.

Chaudhry declined to disclose the sum of assistance through deferred oil payments but said this was part of the discussions that led to the UAE announcing it would deposit $3 billion with Pakistan's central bank.