الثلاثاء, أغسطس 16, 2022
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الرئيسيةEnglishThe UAE economy is heading east... billion dollars in investments in Pakistani...

The UAE economy is heading east… billion dollars in investments in Pakistani companies

Today, Friday, media sources reported that UAE intends to invest one billion dollars in Pakistani companies, in various economic and investment sectors.
The investment seeks to explore new investment opportunities and areas, to cooperate in projects across various sectors, and to expand bilateral economic relations that serve the interests of both countries, according to the Emirates News Agency.
The sources stated that this comes within the framework of the keenness of UAE and Pakistan to continue cooperation in various fields, including gas, energy infrastructure and renewable energy.
The sources indicated that the fields also include healthcare, biotechnology, agricultural technology, logistics, digital communications, e-commerce and financial services.
This comes at a time when Pakistan is facing major economic challenges, as the International Monetary Fund announced in the middle of last month that it had reached a preliminary agreement with the Pakistani government to revive a rescue package worth $6 billion.
Pakistan and the International Monetary Fund agreed to the agreement in 2019, but the issuance of a tranche of just over $1 billion was suspended earlier this year.
This came after the International Monetary Fund expressed concern about Pakistan’s compliance with the terms of the bailout, under former Prime Minister Imran Khan, who was sacked by Parliament last April.

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