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Pakistan

Web Desk
January 6, 2019

PM Imran Khan receives Abu Dhabi Crown Prince Sheikh Mohammed at airport

Pakistan

Web Desk
Sun, Jan 06, 2019

ISLAMABAD: Crown Prince of Abu Dhabi and Deputy Supreme Commander of United Arab Emirates (UAE)'s Armed Forces Sheikh Mohammed bin Zayed Al Nahyan Sunday arrived here on one-day visit.

On his arrival at PAF Nur Khan Airbase, the crown prince was given red carpet welcome.

He was received by Prime Minister Imran Khan along with Fedreal Minister for Power Omer Ayub Khan.

Clad in traditional dresses, a boy and a girl presented bouquet to the dignitary who was accompanied by a high level delegation.

A 21-gun salute heralded the arrival of the crown prince who was visiting Pakistan at the invitation of Prime Minister Imran Khan.

He last visited Pakistan in January, 2007. A contingent of Presidential Guards also presented static salute to the guest.

Keeping aside the protocol and as a unique welcome gesture, the prime minister himself drove the crown prince from airport to the PM House where a formal welcome ceremony was held for the guest.

Later, Sheikh Mohammed bin Zayed Al Nahyan had a one-on-one meeting with the prime minister, followed by delegation level talks.

Mohamed bin Zayed and the Pakistani PM hold official talks in Islamabad on enhancing cooperation and friendship and discuss regional and international issues of mutual interest, said the statement issued on official twitter handle of UAE crown prince.

According to Foreign Office, this is the third interaction between the leadership of Pakistan and UAE in less than three months, which is a testimony to the special nature of our brotherly relations with this important GCC country.

Sheikh Mohammed is expected to officially announce a support package of about $6.2 billion for Pakistan during his two-day visit to the country on January 6. A high-level delegation is accompanying the crown prince.

Reportedly, all relevant terms and conditions have been finalised, and the UAE is about to induct $03 billion cash deposit into the Pakistan economy and $3.2 billion worth of oil supplies on deferred payments for one year.

In December 2018, the UAE officially announced that it would assist Pakistan to overcome international payment crisis and to avoid the deal with the International Monetary Fund (IMF) which contained strict terms and conditions.

The UAE has announced its intention to deposit $03 billion (equivalent to AED11 billion) in the State Bank of Pakistan (SBP) to support the financial and monetary policy of the Islamic Republic of Pakistan, the Abu Dhabi Fund for Development (ADFD) said in a statement published by WAM news agency.

Moreover, the country to recover from its economic crisis has been supported by another $1.5 billion trade finance from the International Islamic Trade Finance Corporation (ITFC).

Earlier, Pakistan received $2 billion in cash from Saudi Arabia at an interest rate of 3.18 percent whereas the third tranche of $01 billion is due in the first week of February.