ICCI hails formalization of UAE bailout package for Pakistan.

ISLAMABAD -- The Islamabad Chamber of Commerce and Industry has hailed the formalization of UAE's $6.2 billion bailout package for Pakistan during the recent visit of Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan and termed it a positive development asit would help Pakistan address its balance of payment issues and improve the confidence of private sector and investors. Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce and Industry said that UAE has always supported Pakistan in difficult times and itsrecent bailout package comprising $3 billion loan on 2.8 percent interest rate and $3.2 billion for supply of oil on deferred payment was a testimony of UAE's continuous commitment and close friendship with Pakistan. It also reflected the keen desire of UAE to help Pakistan overcome its economic woes and stabilize its economy.

He said...