China to Give Pakistan ‘Grant’ as UAE Mulls $6B in Aid
China plans to provide an unspecified financial "grant" to Pakistan while the United Arab Emirates is actively considering Islamabad's request for a fiscal relief package of up to $6 billion to help the country deal with a looming balance-of-payments crisis, Chinese and Pakistani officials say. News of the anticipated financial aid came days after Prime Minister Imran Khan secured more than $6 billion in immediate financial support from Pakistan's close ally, Saudi Arabia, during an official visit to Riyadh. Pakistan urgently needs foreign currency to shore up its depleting reserves of less than $8 billion, which is barely enough for servicing its debt and paying import bills. Khan's nascent government, which took office two months ago and has inherited a debt-ridden national economy, estimates the country urgently needs about $12 billion…