Pakistan's Partnership with the UAE: A Step in the Right Direction

 Pakistan | UAE | ProPakistani


Pakistan has been struggling with its economy for quite some time now, and the recent offer by the government to sell shares in State Owned Entities (SOEs) to two top UAE firms is a promising step in the right direction. Access to shares in National Bank of Pakistan (NBP), Pakistan International Airlines (PIA), Pakistan National Shipping Corporation (PNSC), Pakistan Petroleum Limited (PPL), and Oil and Gas Development Company Limited (OGDCL) has been offered to two UAE companies in an effort to bolster investment in the country.

The UAE firms run a combined $300 billion investment fund portfolio and have expressed interest in investing in profitable public entities in Pakistan. This move by the government shows their willingness to attract foreign investment and help revive the struggling economy. The investment proposal was discussed during Prime Minister Shehbaz Sharif’s recent visit to the UAE where he apprised the top leadership of possible big-money undertakings in Pakistani products and publicly-owned companies.

Moreover, during the visit, the PM also invited investment in National Parks Management Company Limited (NPPMCL), solar power projects, and airport management in Karachi, Lahore, and Islamabad. This shows the government's commitment to attracting investment in various sectors and help bring the economy back on track.

The UAE's recent hints of expanding its investment footprint in Pakistan are a sign of the strong ties between the two countries. Relations between Pakistan and the UAE date back to 1971, and since then, their ties have evolved into broad regional cooperation. The UAE has become a major donor of economic relief and financial aid to Pakistan, and this investment proposal is just another example of the same.

In conclusion, the recent offer by the government to sell shares in SOEs to two top UAE firms is a positive step for Pakistan. This move shows the government's commitment to attracting foreign investment and help revive the ailing economy. Let's hope that this partnership between Pakistan and the UAE will bring positive results for the country.

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