Prime Minister Shehbaz Sharif announced on Tuesday that the United Arab Emirates (UAE) has agreed to roll over a $2 billion debt due this month, offering vital financial support to Pakistan. The decision came after a productive meeting between Prime Minister Sharif and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Rahim Yar Khan, where they discussed strengthening bilateral ties and investment cooperation.
During the meeting, President Al Nahyan committed to accelerating investment projects and enhancing the long-standing partnership between the UAE and Pakistan. The UAE president’s announcement of the debt rollover has provided much-needed relief to Pakistan’s economy.
Prime Minister Sharif emphasized the importance of sustained efforts to stabilize the economy and restore Pakistan’s global standing. He reiterated that with collective dedication, Pakistan would overcome challenges and achieve prosperity. He also highlighted the government’s focus on reducing electricity costs to boost exports and commerce.
Pl watch the video and subscribe to the YouTube channel of republicpolicy.com
In addition, the prime minister outlined progress on supporting small and medium enterprises (SMEs), increasing textile exports, and diversifying into non-traditional export sectors. He also revealed that Indonesian President Prabowo Subianto would visit Islamabad this month to discuss expanding cooperation in Halal meat, rice exports, and edible oil imports.
Furthermore, the cabinet made key decisions, including measures to protect sensitive data from cyberattacks and extending Flydubai’s operating permits for flights between Lahore, Islamabad, and Dubai. Other decisions included the rollout of a paperless e-Office system across federal ministries and the approval of an MoU between Pakistan’s Investment Board and China’s Shandong Ruyi Group for establishing textile parks.
