UAE Rolls Over $2 Billion Debt for Pakistan as PM Thanks Sheikh Mohamed for Support

In a significant diplomatic development, Prime Minister Shehbaz Sharif announced that the United Arab Emirates (UAE) has agreed to roll over a $2 billion debt due for repayment by Pakistan this month. This crucial decision came after a one-on-one meeting between Prime Minister Shehbaz and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Rahim Yar Khan. The prime minister termed the meeting as “positive and constructive” and expressed his gratitude towards the UAE president for his country’s continued support.

During the federal cabinet meeting, Prime Minister Shehbaz emphasized that the UAE’s gesture of extending the debt repayment deadline was a major step towards stabilizing Pakistan’s economy. He highlighted the importance of UAE’s investment commitments, with Sheikh Mohamed assuring that his country would continue to invest in Pakistan, particularly in sectors such as textiles, SMEs, and energy. The UAE president expressed a desire to swiftly implement investment projects to further strengthen bilateral relations.

Shehbaz Sharif also discussed Pakistan’s ongoing economic reforms, including efforts to cut electricity prices to enhance exports and boost commerce. He emphasized that these measures were essential for the long-term stability and prosperity of the nation.

The prime minister further shared that discussions were ongoing to improve bilateral trade with Indonesia, with President Prabowo Subianto set to visit Pakistan later this month. Cooperation in halal meat exports, rice, and edible oil imports will be key topics on the agenda.

In addition, the prime minister condemned the recent shooting incident in Lower Kurram, which resulted in injuries to several people, including a deputy commissioner. He reaffirmed the government’s commitment to combatting human smuggling and maintaining peace and stability in the region.

Shehbaz Sharif concluded by reaffirming his government’s determination to transform Pakistan into a prosperous nation, a journey that requires sacrifices from all sectors of society.