ISLAMABAD: Pakistan has sought multibillion-dollar investment from the UAE for different sectors of the economy and a high-powered delegation is now visiting Pakistan from Tuesday (today) in order to explore the opportunities.
The UAE had already rolled over its deposits of $2 billion lying with the State Bank of Pakistan (SBP). “A high-level delegation of the UAE is coming to Pakistan to meet their counterparts on Prime Minister Shehbaz Sharif’s request to the ruler of UAE. A number of proposals are being discussed and explored during this visit,” a top Pakistani official told The News in background discussions on Monday.
When asked about more specific details related to the purpose of UAE delegation’s official visit, the top official said: “You will have to wait for the outcome of the visit.”
Prime Minister Shehbaz Sharif, on his return from Saudi Arabia, had stopped in the UAE to hold a meeting with President Sheikh Khalifa Bin Zayed Al Nahyan and other top officials. In the meeting, the premier requested the UAE high-ups to explore investment opportunities in Pakistan.
When the Federal Minister for Finance Miftah Ismail was contacted on Monday, he confirmed that the UAE delegation was coming to Pakistan to explore investment opportunities. He made it clear that the visit was not meant to seek any further aid package from the UAE.
During their visit, the UAE’s economic experts would also meet Prime Minister Shehbaz Sharif in Lahore on Tuesday (today).
The delegation would also interact with the government’s economic team and deliberate on ways to accelerate the economic activities between the two countries. The prime minister would also host a dinner reception for the delegation, which would also discuss the promotion of economic and trade relations as well as investment.
The members of the delegation would be apprised of a conducive atmosphere for investment in Pakistan. The discussion on cooperation in the fields of energy, economy, and petroleum industry is also on the agenda.
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