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Pakistan, UAE vow to bolster ‘strategic partnership’ in joint statement

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1 year ago

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  • PM Shehbaz holds meetings with UAE leadership.
  • Discussions focused on strengthening bilateral relationships.
  • UAE announces $3 billion economic relief for Pakistan.

Pakistan and the United Arab Emirates (UAE) agreed on the need to intensify the “strategic partnership and cooperation” between the two countries during a bilateral meeting, a joint statement issued by the Foreign Office (FO) said Friday. 

The statement was issued at the conclusion of Prime Minister Shehbaz Sharif’s two-day official visit to the Gulf country during which he met UAE President Mohamed bin Zayed Al Nahyan and held detailed discussions on concrete measures to strengthen the bilateral relationship. 

On Thursday, the UAE also provided a $3 billion lifeline to Pakistan to help the country amid depleting forex reserves.

During the meeting, the two sides — with a view to developing tangible and meaningful bilateral cooperation in key areas — agreed to intensify consultation and coordination to bolster strategic partnership and cooperation, particularly in the field of information and communication technologies and work together for bridging the digital divide.

The two leaders, the statement added, also exchanged views on regional political and security matters. 

“They also discussed a specific initiative to enhance cooperation in political, defence, economic, commercial and cultural areas, developing joint ventures, and strengthening collaboration in the human resource sector,” it said. 

The prime minister thanked the UAE president for generous assistance during the recent floods in Pakistan, particularly through an air bridge established for this purpose.

During PM Shehbaz’s interaction with the UAE leadership, both countries reaffirmed their historical and brotherly ties, rooted in shared religion, culture, values, and pursuit of regional and global peace and security. They also expressed satisfaction at the convergence of views on a host of regional and global issues.

Based on their decades-old fraternal ties, both countries expressed solidarity with each other in efforts to preserve their sovereignty and territorial integrity, read the statement. 

Moreover, the two sides signed Memoranda of Understanding in the field of combating human trafficking, information exchange, and between the diplomatic academies of both countries.

Accepting PM Shehbaz‘s invitation to Pakistan, President Nahyan agreed to visit Pakistan at a later date.

This was the prime minister’s third visit to the UAE after assuming office. He is also accompanied by a high-level delegation, including key members of the cabinet. 

Loan to Pakistan

A day earlier, the UAE president agreed to roll over the existing loan of $2 billion and provide an additional $1 billion loan to Pakistan. 

The much-needed relief was critical for cash-strapped Pakistan’s distressed economy as the ninth review of the International Monetary Fund (IMF) programme to clear the release of the next $1.1 billion tranche of funds has been pending since September.

Pakistan faces a severe economic crisis, with its central bank foreign exchange reserves falling to a critical level of below $5 billion, which is barely enough for three weeks of imports.

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Entertainment

UAE grants Aiman Khan a Golden Visa

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21 hours ago

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The actress Aiman Khan has notified her fans and followers that the United Arab Emirates has granted her a Golden Visa.

Renowned for her dramatic roles in plays like “Ghar Titli Ka Par,” “Meri Beti,” and “Ishq Tamasha,” Aiman Khan has been spotted putting more emphasis on her personal life with her spouse, fellow actress Muneeb Butt, and moving away from the entertainment industry recently.

Instagram users saw Aiman Khan post a photo of herself receiving the Golden Visa from UAE officials.

The actress was shown gratitude in the caption for the extraordinary hospitality and kind welcome she received from the Dubai government.

Aiman Khan is shown in the accompanying photo, probably when applying for a visa, looking smart in black among representatives from the United Arab Emirates.

Fascinatingly, Aiman Khan’s spouse, Muneeb Butt, previously uploaded a comparable Instagram picture revealing his triumphant Golden Visa acquisition.

Often taking his wife, Aiman Khan, along, Muneeb Butt travels to Dubai for business and pleasure. Even after their daughter Amal was born, the well-known couple continued to observe this habit.

Furthermore, Miral, their second daughter, made her first vacation outside of Pakistan when they recently took her to Dubai.

“Dubai holds a special place in my heart, from memorable vacations to productive work trips,” Muneeb Butt complimented in the description.

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Business

Exchange achieves all-time high: KSE-100 index surpasses 72,500 points

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21 hours ago

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With the benchmark KSE-100 index hitting a record-breaking high of 72,501 points, the Karachi Stock Exchange saw yet another incredible rise.

Within Pakistan’s financial environment, investors demonstrated a strong sense of trust in the market as the bullish trend continued.

As a result of the significant inflow of investment and optimism among market players, the index had an amazing 450-point rise during the trading session.

In their analysis of the market’s remarkable performance, financial analysts pointed to a number of causes for the upward trend, such as encouraging economic data, robust company profits, and the government’s proactive measures to promote economic expansion.

The durability and upward momentum of the market have also been greatly aided by continuous infrastructural investments and efforts meant to boost investor confidence.

In the meantime, interbank rates increased by six paisas, and the US dollar’s value saw a slight rise in the currency market. As a result of the current market conditions and the dynamic nature of foreign exchange swings, the dollar was quoted at Rs 278.45 in the interbank market.

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Education

Youth from North Waziristan are given an educational and recreational tour by the Pakistan Army.

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21 hours ago

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Youth from North Waziristan set off on a three-day enjoyable and enlightening excursion as part of the Pakistan Army’s “Ilm Tolo Da Para” project.

The young participants in the trip had a great time touring some of Islamabad’s most notable sites, such as the magnificent Faisal Mosque, Ayub Park, Pakistan Museum of Natural History, Pakistan Monument Museum, Folk Heritage Museum, and the picturesque Lake View Park.

The Imam led an insightful workshop for the students at Faisal Mosque, exploring the mosque’s significance and its place in the history of the country.

The youth’s awareness of their country’s legacy was strengthened by their visits to the People’s Heritage and Pakistan Monument, which provided them with valuable insights into the sacrifices made during Pakistan’s founding.

As the eager young people engaged in exhilarating rides, games, and other leisure pursuits, Ayub National Park transformed into a playground where they made enduring memories.

The youth gave the Pakistan Army their sincere gratitude for organising this beneficial event that combined learning with leisure.

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