UAE commits to investing $10 billion in Pakistan

[Samlee]

UAE president accepts invitation by PM Shehbaz for an official visit to Islamabad
View attachment 42866
The United Arab Emirates on Thursday committed to investing $10 billion in multiple sectors of the country’s economy, a statement from the Prime Minister’s Office (PMO) said.

According to the statement, Prime Minister Muhammad Shehbaz Sharif held a bilateral meeting with the President of the UAE and the Ruler of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi.

The prime minister was accompanied by the Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Defence Khawaja Muhammad Asif and Special Assistant to Prime Minister Syed Tariq Fatemi.

The premier offered condolences on the passing away of close family members of Al Nahyan family, late Sheikh Tahnoun bin Mohamed Al Nahyan and the late Sheikh Hazza bin Sultan Al Nahyan.

The meeting provided an opportunity to discuss the whole gamut of bilateral relations including cooperation in political, economic, social, cultural and defence sectors.

PM Shehbaz underscored the importance of galvanising existing cooperation and strengthening strategic partnership including in the field of information technology, renewable energy and tourism.

He highlighted steps taken by the government aimed at ensuring socio-economic stability in the country and building investors’ confidence. He reiterated Pakistan’s commitment to ensure meaningful implementation of investment cooperation agreements in the areas of energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking & financial services.

Read Rs20b sought to boost cybersecurity, regulate social media

The UAE president assured UAE’s support in all circumstances and made commitment of investing $10 billion in multiple sectors in Pakistan.

The prime minister conveyed gratitude to the UAE leadership for hosting 1.8 million Pakistani diaspora and highlighted Pakistan’s huge human resource potential that could be engaged in multiple sectors.

Both leaders exchanged views on other issues of mutual interest including regional and global developments. The prime minister reiterated his invitation to the UAE president for an official visit to Pakistan, which the UAE president accepted.

Earlier in the day, PM Shehbaz arrived in Dubai, United Arab Emirates for a one-day visit, his first since coming to power after the February 8 polls.

Also read: PM Shehbaz to visit China in first week of June

On arrival, the premier was welcomed by Vice President and Deputy Prime Minister of the United Arab Emirates Mansour bin Zayed Al Nahyan.

‘Not seeking loans but joint collaboration’

Later, the premier, while addressing the business community, said that his aim was not to seek loans but joint collaboration and investment which will offer mutual benefits to the UAE and Pakistan.

The prime minister praised the UAE for its advancement in technology and the nation's success in building advanced infrastructure.

He also expressed pride in seeing talented individuals from both countries working together in various sectors and emphasised the need to replicate these efforts to promote the digitisation of the economy in Pakistan.

Shehbaz also commended the UAE for its visionary leadership in diversifying its economy beyond oil and gas and paving the way for a future focused on industrial growth, youth empowerment, and digitalization - positioning the UAE as a hub for import and export.

The prime minister asserted that since being re-elected, he has prioritised the promotion of technology and AI across diverse sectors such as agriculture, mining, and minerals.

“Today, I am not here to seek loans, but to seek joint collaborations and investments that offer mutual benefits,” Shehbaz added.

Emphasising the significance of digital transformation, Shehbaz underscored the necessity for top-tier vocational training and the empowerment of youth with contemporary skills. He advocated for the establishment of businesses, startups, and enterprises in the UAE, particularly given that 60% of Pakistan's population comprises young individuals.

“This round table conference is to discuss what can be achieved and serves as a testimony that the sky is the limit,” the PM said.

The premier acknowledged that while Pakistan's tech sector has a long way to go, the goal is to completely transform the economy through joint ventures, collaboration, and knowledge sharing.

UAE Even offered Investment of $1 BillionSome 2 Years Back .What Became of That???

UAE to invest $1 billion in Pakistani companies in various economic, investment sectors

LONDON: The UAE announced on Friday it was to invest $1 billion in Pakistani companies in various economic and investment sectors, state news agency WAM reported, citing an official source in Abu Dhabi. “The move aims to explore new investment opportunities and areas for cooperation in projects...

www.arabnews.pk

 

[Tameem]

Delete post

 

[prothought]

PROPHET MUHAMMAD (ﷺ) said:
If you knew how bad begging is, no one would go to anyone else and ask him for anything.

1. (SUNAN NASAI Vol #3, Hadith #2587)

PROPHET MUHAMMAD (ﷺ) said:
One of you will keep on begging until he meets Allah with not a bit of flesh on his face.

1. (SAHIH MUSLIM Vol #3, Hadith #2396)

My father once read a book where Hazarat Ali (RA) said to a companion that those who beg with their hands open can never be in a position to give with their hands up, as it's a punishment from Allah.

This benchod chua Showbaz is giving this nation a collective black-face facial wherever he goes, and he couldn't even wait more than 48 hours after burying the the guy from across the border.

Bro, this is not begging. This is persuading the UAE government to invest in Pakistan. I hope you can see the difference between the two. Every country in this world needs investment - local investment as well as the foreign one. Unfortunately, our previous governments failed in creating a conducive environment for that investment. Quite contrary, our policies were actually meant to kill any chances of foreign investment in Pakistan. Even our own investor went to other countries (such as Bangladesh, Middle East, Europe and North America, etc.) to invest during the past ten or so years. Shortage of electricity is one important issue but not the killer one. Investors can produce their own cheap electricity if the government policies facilitate that. But our well entrenched mafia would not allow that.

The most crucial and the real issue in Pakistan is the lack of rule of law. We are full of many different types of mafia in Pakistan. Even our judges have transformed into a mafia. How many hundreds of billions of rupees worth financial disputes are pending in Pakistani courts? That will be an eye opener for you. Investor would never risk his investment and that risk is very high in Pakistan. Having disputes in a business is very natural. But keeping those disputes lingering in courts for tens of years is criminal and the real problem. That cannot happen with judges colluding with criminals. In fact, we have recently seen several examples of judges being a part of criminals. No investor in this world has time, appetite, or desire for getting into such a stupid system or country.

When no one was willing to invest in Pakistan, our Chinese friends came forward (under the compulsion of their own national interests) and heavily invested in Pakistan under the CPEC project. What happened to that investment? IK government, exactly in the interests of IK's Western masters, not only scuttled the CPEC project but actually tried his best to infuriate our Chinese friends. It's only the deeper inter-military bond between Pakistan and China that saved our relations with China from collapsing. Anyhow, the CPEC project seems to be on-track once again.

Shahbaz Sharif is not doing any special favors to Pakistanis by trying to persuade other countries to invest in Pakistan. He is doing his job. Given the past policies of Pakistan and reckless actions of our judiciary (that disgracefully but deservingly occupies a near bottom position in global ranking of courts), we need to make a huge effort to persuade other countries for investing in Pakistan.

While Shahbaz government must be appreciated for its efforts in this regard, it must also work on judicial reforms in the country. The basis of those reforms must be the accountability of judges for their decisions/judgments. It's no joke that three idiot judges knock down the laws passed by 500 elected representatives of the people of Pakistan. While our brainless pseudo thinkers might madly defend that nonsense, the real world (and investors) find it illogical and criminal. Our judges have turned themselves into a monster mafia. Their self-proclaimed role as the protectors of the constitution must be demolished and then the judiciary must be bound by a well-defined role and limits written in the constitution. Easier said than done, the government will have a very serious challenge while cleaning our justice system from this judicial mafia and streamlining the justice system.

 

[PakFactor]

Exactly but Reko Diq is at a standstill because of our greed and incompetence.

A good friend once said that the U.S. is not mining and extracting its assets because those underground assets are for development. Even if they are borrowing, the Americans are borrowing against their assets; only a fool would sell his assets to pay for day-to-day operations. The best would have been to borrow against those assets, build up the economy, have it pay down the debt, and keep your assets.

However, we have Daronomics.

 

[Developereo]

The day Ayub Khan sahb left, was the day our downfall started. Our country was doing great until Ayub was there and after he left, aik k baad aik kuttay da bacha aya hae aur saaray mulk ko barbaad/ break up kar diya hae. Total disgrace.

Others have already pointed out what a buffoon Ayub Khan was.

To add to his other mistakes, his biggest screwup was to reject China's offer in 1962 to take Kashmir and finish off the issue once and for all.

As for the UAE investment, it is just a photo op. The article mentioned no time frame for the investment. Is it 10 billion over five years, ten, hundred?

 

[Broghil]

If I lived on your promise plz remember I considered you a liar...

With all the apologies to Ghalib.

 

[Awwad]

UAE president accepts invitation by PM Shehbaz for an official visit to Islamabad
View attachment 42866
The United Arab Emirates on Thursday committed to investing $10 billion in multiple sectors of the country’s economy, a statement from the Prime Minister’s Office (PMO) said.

According to the statement, Prime Minister Muhammad Shehbaz Sharif held a bilateral meeting with the President of the UAE and the Ruler of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi.

The prime minister was accompanied by the Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Defence Khawaja Muhammad Asif and Special Assistant to Prime Minister Syed Tariq Fatemi.

The premier offered condolences on the passing away of close family members of Al Nahyan family, late Sheikh Tahnoun bin Mohamed Al Nahyan and the late Sheikh Hazza bin Sultan Al Nahyan.

The meeting provided an opportunity to discuss the whole gamut of bilateral relations including cooperation in political, economic, social, cultural and defence sectors.

PM Shehbaz underscored the importance of galvanising existing cooperation and strengthening strategic partnership including in the field of information technology, renewable energy and tourism.

He highlighted steps taken by the government aimed at ensuring socio-economic stability in the country and building investors’ confidence. He reiterated Pakistan’s commitment to ensure meaningful implementation of investment cooperation agreements in the areas of energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking & financial services.

Read Rs20b sought to boost cybersecurity, regulate social media

The UAE president assured UAE’s support in all circumstances and made commitment of investing $10 billion in multiple sectors in Pakistan.

The prime minister conveyed gratitude to the UAE leadership for hosting 1.8 million Pakistani diaspora and highlighted Pakistan’s huge human resource potential that could be engaged in multiple sectors.

Both leaders exchanged views on other issues of mutual interest including regional and global developments. The prime minister reiterated his invitation to the UAE president for an official visit to Pakistan, which the UAE president accepted.

Earlier in the day, PM Shehbaz arrived in Dubai, United Arab Emirates for a one-day visit, his first since coming to power after the February 8 polls.

Also read: PM Shehbaz to visit China in first week of June

On arrival, the premier was welcomed by Vice President and Deputy Prime Minister of the United Arab Emirates Mansour bin Zayed Al Nahyan.

‘Not seeking loans but joint collaboration’

Later, the premier, while addressing the business community, said that his aim was not to seek loans but joint collaboration and investment which will offer mutual benefits to the UAE and Pakistan.

The prime minister praised the UAE for its advancement in technology and the nation's success in building advanced infrastructure.

He also expressed pride in seeing talented individuals from both countries working together in various sectors and emphasised the need to replicate these efforts to promote the digitisation of the economy in Pakistan.

Shehbaz also commended the UAE for its visionary leadership in diversifying its economy beyond oil and gas and paving the way for a future focused on industrial growth, youth empowerment, and digitalization - positioning the UAE as a hub for import and export.

The prime minister asserted that since being re-elected, he has prioritised the promotion of technology and AI across diverse sectors such as agriculture, mining, and minerals.

“Today, I am not here to seek loans, but to seek joint collaborations and investments that offer mutual benefits,” Shehbaz added.

Emphasising the significance of digital transformation, Shehbaz underscored the necessity for top-tier vocational training and the empowerment of youth with contemporary skills. He advocated for the establishment of businesses, startups, and enterprises in the UAE, particularly given that 60% of Pakistan's population comprises young individuals.

“This round table conference is to discuss what can be achieved and serves as a testimony that the sky is the limit,” the PM said.

The premier acknowledged that while Pakistan's tech sector has a long way to go, the goal is to completely transform the economy through joint ventures, collaboration, and knowledge sharing.

Total collapse of economy in just 2 years after regime change. No wonder why no one is interested investment in a state where nation's mandate is not respected.

Whenever investment annoucements are made, they are specific about where in which plant, in which project that will go. This statement has absolutely ZERO meaning.

Not even one dollar investment coming. Stop Fooling the nation. Fix your country first, fake govt can NEVER bring any investment

 

[Liquidator]

The donkey king going for some carrots for his donkey followers

 

[agidest]

Indians get more respect

Any hypothesis on why that is?

Pakistanis at the very least are co-religionists, whereas Indians have nothing in common and have no emotional attachment to the Arabs. To Indians, Arab lands are the same as any other foreign country like Europe or the US.

Now, as to why the Emirates will prefer India for investment purposes, it's because the Indians control the purse and pulse of the economy. When one is at the helm you can steer the ship at your will.

That's not how this works. These are street level conspiracy type of statements. Not the statements of someone who knows how investment management firms deploy capital.

Arab sovereign wealth funds invest in India for the same reason that the rest of the world invests in India. It's because the spreadsheets say that for a high volume of capital deployment, the return on investment would be over 10% and the investment would be in a safe and predictable environment with a stable currency.

 

[Circadian Rhythm]

To add to his other mistakes, his biggest screwup was to reject China's offer in 1962 to take Kashmir and finish off the issue once and for all.

How Pakistan helped India during 1962 war with China

Ayub Khan told foreign powers who wanted him to help India that the fact that Pakistan did not take advantage of India's vulnerability was a form of assistance and a sufficient gesture. This and more in veteran journalist Kuldip Nayar's latest book, Beyond the Lines: An Autobiography

m.rediff.com

 

[Pakistan Space Agency]

Just look at that picture and look how intimidated our PM is. This is seriously embarrassing. Nation of 250m+ and BC this is who we choose to represent us on an international level.

Get your eyes checked.

 

[Lulldapull]

Others have already pointed out what a buffoon Ayub Khan was.

To add to his other mistakes, his biggest screwup was to reject China's offer in 1962 to take Kashmir and finish off the issue once and for all.

As for the UAE investment, it is just a photo op. The article mentioned no time frame for the investment. Is it 10 billion over five years, ten, hundred?

oh bhai saara development Ayub khan k zamanay main howa thaa. Tabela dam, Mangla dam, Haleji reservoir/ Keenjhar reservoir Suparco, reorganizing/ requipping of our armed forces, development/ refurbishment of 10 new military bases. Expansion of Kemari berths, PAEC/ Kanupp/ Khushab.....establishment of Isloo.......I can list 20 more things. Look who came after him......saara mulk barbaad, east pakistan gone. Aik say barrh kar doosra harami/ corrupt. Ayub did what he could for the country. Baqio nay kuchh nahi kiya except brought us to default.

 

[Awwad]

Bro, this is not begging. This is persuading the UAE government to invest in Pakistan. I hope you can see the difference between the two. Every country in this world needs investment - local investment as well as the foreign one. Unfortunately, our previous governments failed in creating a conducive environment for that investment. Quite contrary, our policies were actually meant to kill any chances of foreign investment in Pakistan. Even our own investor went to other countries (such as Bangladesh, Middle East, Europe and North America, etc.) to invest during the past ten or so years. Shortage of electricity is one important issue but not the killer one. Investors can produce their own cheap electricity if the government policies facilitate that. But our well entrenched mafia would not allow that.

The most crucial and the real issue in Pakistan is the lack of rule of law. We are full of many different types of mafia in Pakistan. Even our judges have transformed into a mafia. How many hundreds of billions of rupees worth financial disputes are pending in Pakistani courts? That will be an eye opener for you. Investor would never risk his investment and that risk is very high in Pakistan. Having disputes in a business is very natural. But keeping those disputes lingering in courts for tens of years is criminal and the real problem. That cannot happen with judges colluding with criminals. In fact, we have recently seen several examples of judges being a part of criminals. No investor in this world has time, appetite, or desire for getting into such a stupid system or country.

When no one was willing to invest in Pakistan, our Chinese friends came forward (under the compulsion of their own national interests) and heavily invested in Pakistan under the CPEC project. What happened to that investment? IK government, exactly in the interests of IK's Western masters, not only scuttled the CPEC project but actually tried his best to infuriate our Chinese friends. It's only the deeper inter-military bond between Pakistan and China that saved our relations with China from collapsing. Anyhow, the CPEC project seems to be on-track once again.

Shahbaz Sharif is not doing any special favors to Pakistanis by trying to persuade other countries to invest in Pakistan. He is doing his job. Given the past policies of Pakistan and reckless actions of our judiciary (that disgracefully but deservingly occupies a near bottom position in global ranking of courts), we need to make a huge effort to persuade other countries for investing in Pakistan.

While Shahbaz government must be appreciated for its efforts in this regard, it must also work on judicial reforms in the country. The basis of those reforms must be the accountability of judges for their decisions/judgments. It's no joke that three idiot judges knock down the laws passed by 500 elected representatives of the people of Pakistan. While our brainless pseudo thinkers might madly defend that nonsense, the real world (and investors) find it illogical and criminal. Our judges have turned themselves into a monster mafia. Their self-proclaimed role as the protectors of the constitution must be demolished and then the judiciary must be bound by a well-defined role and limits written in the constitution. Easier said than done, the government will have a very serious challenge while cleaning our justice system from this judicial mafia and streamlining the justice system.

LOL! Which project exactly UAE will invest in ??

Only a damn fool will believe that even a single dollar will come. I mean everyone know that MOUs were a lollypop. But here even there is no MOU, its just UAE saying verbally that hopefully we will invest LOL! This is epic.

No country is fool enough to invest in Pakistan with its current setup. Yes, they may buy assets of Pakistan. Like PMLN is going to sell stakes of Govt of Pakistan in Reko diq to KSA, making Pakistan minor shareholder on the mine of its own. After this decision of PMLN, Barrick Gold will become absolute majority shareholder and owner of the mine as they absolutely rejected to sell their shares. So UAE & KSA may only purchase assets of Pakistani nation. But they will NEVER invest a dime to this fake setup. Why Fake setup, a govt based on 16 seats, a military establishment of compromised Generals on extensions, a military establishment which has zero trust of nation and their own soldiers, total political anarchy, over a million people left country post regime change, total investor drain and brain drain. Investments in the country dropped 86% in last 2 years. This is is the lowest ever investments since 1972.

 

[Awwad]

oh bhai saara development Ayub khan k zamanay main howa thaa. Tabela dam, Mangla dam, Haleji reservoir/ Keenjhar reservoir Suparco, reorganizing/ requipping of our armed forces, development/ refurbishment of 10 new military bases. Expansion of Kemari berths, PAEC/ Kanupp/ Khushab.....establishment of Isloo.......I can list 20 more things. Look who came after him......saara mulk barbaad, east pakistan gone. Aik say barrh kar doosra harami/ corrupt. Ayub did what he could for the country. Baqio nay kuchh nahi kiya except brought us to default.

Who knows, country could have done even better under Fatima Jinnah. Most of these projects were conceptualized way earlier within 1950s, during 50s & 60's Pakistan didn't had much financial obligations like massive EMIs or debts, so World bank & Asian banks easily lended the money for these projects like Dams. But whatever Ayub did, he ruined it by bringing General Yahya. Ayub could have done constitutional change of power, but he told Yahya to use military power and declare martial law. His that move basically led to disintegration of the country later. As Yahya used power against Bengalis instead respecting their mandate, whole thing backfired and Bengalis picked up arms.

Ayub was responsible not only for bringing Yahya as dictator, but he also supported fuedals like Bhutto. Bhutto was FM in Ayub's govt. Ayub and Pakistani military was strictly against the real faces of the nation that were Fatima Jinnah & Sheikh Mujeeb-ur-rehman.

 

[Awwad]

Without oil UAE would be even poorer than Pakistan.

I wonder on such excuses. Yes its their treasure, why anyone has a problem with it?

I always hear, Pakistanis saying that we have world's highest peaks, beautiful valleys, rivers and all. So why you say all that? Whatever is God gifted to you, you cherish that. Above all you have atleast rivers and fresh water and fertile land. These are enormous resources. Instead making lame excuses and feeling jealousy, Pakistan should make use of whatever it has.

There are many countries which has so much oil but still they have no progress and unrest and only corrupt elite has money. But Countries like UAE & Qatar have really progressed well. We may not accept with their policies but they have done well in progress of their own countries. They played well. Travel & tourism alone is giving them billions of dollars. Pakistan could do great but it needs to revisit its policies & strategy.