PM thanks UAE for $1b financial support

ISLAMABAD: Prime Minister Shehbaz Sharif has thanked UAE President Mohamed bin Zayed over a telephone conversation for his support of the country’s efforts in achieving economic stability.

The United Arab Emirates (UAE) had deposited $1 billion to the State Bank of Pakistan (SBP).

Recalling his visit to UAE in January, the prime minister said “the common resolve of leadership in both countries translates the fraternal bonds into mutually rewarding economic ties.”

The two leaders further discussed advancing economic, trade and investment ties and creating greater opportunities for the Pakistani workforce in the UAE. They also exchanged views on a range of regional and international issues of mutual interest.

They also discussed prospective solutions to climate change challenges, in light of the upcoming COP28 hosted by UAE this year, which Pakistan will be participating in.

“Pakistan and UAE have a history of close relationship characterized by mutual trust and understanding, close cooperation, and an abiding tradition of supporting each other,” the PMO said.

“UAE is home to 1.7 million Pakistanis, contributing to the progress, prosperity and economic development of the two brotherly countries.”