ISLAMABAD – Prime Minister Shehbaz Sharif on Tuesday said the United Arab Emirates (UAE) has extended the $2 billion debt that was due to mature this month.
The prime minister told the cabinet member while chairing a meeting. He apprised the members of his “positive and constructive” meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Rahim Yar Khan, adding that they discussed the ways to further strengthen bilateral ties and investment cooperation.
He said in their one-on-one meeting, the UAE president announced to rollover $2 billion loan for which he thanked the visiting dignitary.
The premier said as the national economy was put on a stability course, it required sweating blood to make Pakistan a prosperous country.
“Due to our collective efforts, the economy is stabilizing. We will continue to work hard with the same commitment and devotion. Time is not far from when we will become a prosperous nation and regain our stature. But this needs a journey of sacrifice, blood, and sweat and nothing short of that,” state media quoted him as having said.
He said that as the program on the homegrown economy has been unveiled, it required measures to reduce the cost of electricity calling it inevitable to improve exports and commerce.
The prime minister told the cabinet members that the textile exports were on the rise and reiterated an enhanced focus on export-led growth and non-traditional exports.
He revealed that Indonesian President Prabowo Subianto will visit Pakistan this month when the two sides would discuss strengthening and integration of bilateral cooperation.
Talking about a firing incident on a convoy in Lower Kurram injuring the deputy commissioner and others, PM Shebaz called it an attempt to sabotage the peace agreement.
He prayed for the swift recovery of the deputy commissioner and others being treated in Peshawar.
