UAE's $10bn investment deal boosts confidence in Pakistan's economy: Minister

MG News | May 25, 2024 at 02:06 PM GMT+05:00

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May 25, 2024 (MLN): The $10 billion investment package announced by the UAE reflects the confidence of world leaders in the government's efforts to revamp Pakistan's economy, Minister for Information and Broadcasting Attaullah Tarar stated during a news conference on Friday.

He said the warmth shown towards Prime Minister Shehbaz Sharif by UAE President Sheikh Mohammed bin Zayed Al Nahyan is unprecedented.

Moreover, securing an investment package from the United Arab Emirates is a great victory for the government and the Special Investment Facilitation Council on the diplomatic front.

He said that due to the collaborative efforts of the government and the Special Investment Facilitation Committee, investments in Pakistan rose by 172% in April compared to March.

"SIFC is the lifeline of Pakistan's economy and is ensuring foreign investment by providing an enabling environment to investors," he added.

Referring to the Khyber Pakhtunkhwa Government's intention to present the provincial budget in advance of the Federal Budget, the Minister for Information said they are doing so to deceive the people for political reasons.

He said it is the Federal Government, that presents budget estimates on the basis of receivable resources to determine the share of the provinces.

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