UAE shows interest to augment its investment in Pakistan

The Nation  |  Dec 02, 2022

 UAE shows interest to augment its investment in Pakistan
ISLAMABAD-United Arab Emirates (UAE) has shown interest to augment its investment in Pakistan in new sectors of the economy.

Hamad Obaid Ibrahim Salim Al-Zaabi, Ambassador of the United Arab Emirates, called on the Federal Minister for Finance & Revenue Senator Mohammad Ishaq Dar at Finance Division. Finance Minister Ishaq Dar and Hamad Obaid Ibrahim Salim Al-Zaabi, Ambassador of the United Arab Emirates, shared the historical and long-standing ties between both countries and exchanged views on further boosting and strengthening these economic ties. Finance Minister Senator Ishaq Dar stated that Pakistan and UAE are engaging in various areas including energy, refinery, petroleum and trade, however, still a lot of potential is unexplored. In this regard, the finance minister also highlighted various new avenues in which both countries can trade and invest.

The finance minister recalled his recent visit to the UAE and discussed the fruitful meetings held in UAE with management of Abu Dhabi Holding Company and International Holding Company. It was shared that the ADQ and IHC showed their confidence in the ongoing economic policies of the present government and shared their interest in investing in energy, agriculture, healthcare and other sectors.

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The ambassador of the United Arab Emirates highlighted that UAE is fully cognizant of the development-oriented economic policies of the country being undertaken by the present government and shared that UAE is keenly interested to augment its investment in Pakistan in new sectors of the economy. The finance minister welcomed the proposal for new investment in Pakistan of UAE and assured the UAE’s Ambassador of full support and cooperation by the present government. In conclusion, the finance minister shared sentiments of gratitude for good will and cooperation of his excellency and hoped to enhance the bilateral relations further in the future.

Meanwhile, Secretary Defence Lt Gen (Retd) Hamood Uz Zaman Khan HI(M) called on Finance Minister Senator Mohammad Ishaq Dar at Finance Division,. SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Special Secretary Finance and senior officers from Finance and Defence Divisions attended the meeting. Defence and economic issues together with security related budgetary matters were discussed during the meeting. Finance Minster Senator Mohammad Ishaq Dar highlighted economic outlook and fiscal position of the country and various measures taken by federal government to stabilize the economy and said that the results of these measures will soon be reflected in strengthened fiscal position and enhanced economic activities. In conclusion, the secretary Defence thanked the finance minister for cooperation.

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