UAE extends $2 billion loan for Pakistan – Daily Notable
Islamabad:
The United Arab Emirates (UAE) decided to roll over a $2 billion loan to Pakistan, the country’s Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan told Foreign Minister Shah Mahmood Qureshi in a meeting, the Foreign Office said in a statement on Tuesday.
Besides rolling over the loan, which was deposited by the Abu Dhabi Fund, Nahyan also affirmed UAE’s commitment to “extend every possible support to Pakistan”.
Qureshi thanked Nahyan for the decision, saying it “reflected the warm and brotherly ties” between the two countries.
In a separate statement, Foreign Office spokesperson Zahid Hafeez Chaudhri said the UAE’s decision was “yet another manifestation of the close cooperative relations between the two countries
“We greatly appreciate the UAE’s continued support and cooperation,” he added.
Qureshi and his UAE counterpart held detailed discussions on Monday evening after the delegation-level talks during the foreign minister’s three-day visit to the Gulf state.
During the meeting, Qureshi emphasised the need to “remove impediments that hamper travel between the two countries” during the meeting.
For Notable Series Click Here
His comments came a day after Qureshi raised the issue of visa restrictions for Pakistanis in his meeting with the Emirati Minister for Tolerance and Coexistence, Sheikh Nahyan Mabarak Al Nahyan, and Minister of State for Foreign Affairs Ahmed bin Ali Al Sayegh a day earlier.
During the meeting, Qureshi and Nahyan reiterated their desire to strengthen ties between Pakistan and UAE, reviewed all aspects of the bilateral relationship and discussed ways to enhance cooperation in diverse areas including trade, investment, infrastructure, energy, technology, tourism and manpower.”
Qureshi appreciated the positive contribution of Pakistani citizens residing in the UAE towards development in both countries. “He emphasised the need for nurturing and strengthening people-to-people linkages, as well as removing impediments that hamper travel between the two countries,” the FO statement said.
In November last year, the UAE banned work visas for Pakistani nationals. Although the ban was imposed along with similar restrictions on a number of Muslim countries, Pakistan that heavily relies on remittances from the Emirates was particularly affected.
The restrictions were attributed to the Covid-19 pandemic, but many believe that the move was based on security considerations in the aftermath of important geopolitical developments that happened towards the end of the last year.
There were also reports of Pakistani expatriates facing difficulties in the renewal of their permits and other instances of discrimination. Some Pakistanis were picked up by the Emirati security agencies.
Qureshi also appreciated the UAE’s progress over the last 50 years, attributing it to the country’s “sagacious and visionary leadership”. The UAE foreign minister acknowledged the “valuable role” played by the Pakistani diaspora in UAE’s progress and prosperity.-PUNA
FOR LOAN OR MORTGAGE RELATED ISSUES CLICK HERE
For Urdu News Click Here
Because Only Together We Can
For Notable Series Click Here