Islamabad, Jan 7: Prime Minister Shehbaz Sharif confirmed on Tuesday that the United Arab Emirates (UAE) has agreed to roll over a $2 billion loan that was due for repayment by Pakistan this month. The announcement was made during the Prime Minister’s televised opening remarks at the federal cabinet meeting, where he highlighted the significance of his recent meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan.
During their one-on-one discussion in Rahim Yar Khan, the two leaders focused on strengthening bilateral ties and fostering investment cooperation. The UAE president underscored the importance of expediting investment projects between the two countries, further cementing the UAE’s commitment to its longstanding partnership with Pakistan. In a gesture of goodwill, President Sheikh Mohamed announced the rollover of the $2 billion debt, a decision for which Prime Minister Shehbaz expressed his gratitude.
The Prime Minister also took the opportunity to address Pakistan’s ongoing economic challenges, emphasizing that while the national economy is stabilizing, the country must continue to make strenuous efforts to regain its prosperity and international stature. He urged the nation to stay united, as “nothing short of sacrifice, blood, and sweat” will restore Pakistan’s lost grandeur.
Further, the Prime Minister discussed the importance of reducing electricity costs, stating that the government’s focus would remain on improving exports and enhancing commerce. He highlighted the rise in textile exports and shared plans for future collaboration with Indonesia, including strengthening trade in Halal meat and rice exports.
On the issue of human smuggling, which has resulted in countless deaths and damaged Pakistan’s reputation, Prime Minister Shehbaz reaffirmed his government’s commitment to tackling the problem. Regular meetings with the Interior Ministry and relevant agencies are being held to address this grave issue.
