UAE president promises $10 billion investment in Pakistan following PM’s visit

Dubai: The United Arab Emirates (UAE) has pledged to invest another $10 billion in Pakistan during the visit of Prime Minister Shehbaz Sharif here on Thursday.

As per the media reports, this announcement was made during a meeting between Prime Minister Shehbaz Sharif and the President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan, in Abu Dhabi.

The investment pledge is a major win for the cash-strapped South Asian nation, which has been actively seeking foreign investment to address its fiscal challenges. Prime Minister Shehbaz Sharif expressed optimism about Pakistan’s future economic corridor on a one-day visit to the Gulf State, saying “the begging bowl is broken.”.

The Pakistan Muslim League-Nawaz (PML-N) government is exploring various avenues to attract investment from allied countries to bolster its economy, boost foreign reserves, and stem rising inflation. This substantial commitment from the UAE is expected to provide much-needed support for these efforts.

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The meeting in Abu Dhabi highlights the deepening economic ties between Pakistan and the UAE. This underscores the UAE’s confidence in Pakistan’s economic potential and its willingness to support its economic stabilization initiatives. This investment is expected to stimulate various sectors within Pakistan, promoting economic growth and development.

At a time when Pakistan is going through its financial woes, the UAE’s $10 billion investment is a promising step towards economic recovery and stability, offering hope for a more prosperous future for the nation.