ISLAMABAD – Prime Minister Shehbaz Sharif announced on Tuesday that the United Arab Emirates (UAE) has agreed to roll over Pakistan’s $2 billion debt, which was due for repayment this month.
During a cabinet meeting, the prime minister shared details of his “positive and constructive” meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Rahim Yar Khan. The two leaders discussed ways to further strengthen bilateral relations and investment cooperation.
In their one-on-one meeting, the UAE president confirmed the rollover of the $2 billion loan, for which PM Shehbaz expressed his gratitude.
The prime minister emphasized the importance of collective efforts in stabilizing Pakistan’s economy and reaffirmed his commitment to working hard to achieve prosperity. He acknowledged that this journey would require sacrifice and dedication.
PM Shehbaz also highlighted the government’s focus on reducing electricity costs to improve exports and commerce, noting that textile exports were on the rise. He emphasized the need for an export-led growth strategy, including an increased focus on non-traditional exports.
Additionally, the prime minister revealed that Indonesian President Prabowo Subianto will visit Pakistan later this month to discuss enhancing bilateral cooperation.
On a separate note, PM Shehbaz condemned a firing incident on a convoy in Lower Kurram, which injured the deputy commissioner and others, calling it an attempt to disrupt the peace agreement. He wished for the swift recovery of those injured, who are receiving treatment in Peshawar.
