UAE Rolls Over $2 Billion Loan
Fiscal Relief for Pakistan
Prime Minister Shehbaz Sharif announced that the UAE has extended its $2 billion loan deposit, offering Pakistan critical fiscal support.
Meeting with UAE President
During a meeting in Rahim Yar Khan, UAE President Sheikh Mohamed bin Zayed Al Nahyan assured PM Shehbaz of continued economic assistance, strengthening bilateral ties.
Pakistan’s Economic Progress
Key Economic Indicators
| Indicator | 2022 | 2024 | Change |
|---|---|---|---|
| Foreign Exchange Reserves | $2.7 Billion | $11.7 Billion | Increased by $9 Billion |
| External Public Debt | $100 Billion | $100 Billion | No Change |
Despite fiscal challenges, Pakistan has made strides in boosting its foreign exchange reserves. However, the external public debt remains stable at $100 billion.
Focus on Investment
Positive Discussions
PM Shehbaz described his meeting with the UAE president as productive; furthermore, the discussions focused on enhancing investment opportunities. As a result, specific targets have been set to attract investors and create a favorable business environment.
Action on Investments
Deputy PM Ishaq Dar has been instructed to expedite efforts to finalize investment-related measures.
Reducing Power Costs
Urgent Need for Lower Tariffs
The prime minister highlighted that economic growth depends on reducing electricity prices.
Options Under Review
| Option | Description |
|---|---|
| Renewable Energy Investments | Increase reliance on solar and wind |
| Subsidy Adjustments | Revise subsidy mechanisms |
| Efficiency Upgrades | Improve energy distribution systems |
A follow-up meeting is scheduled to finalize these measures.
Boosting Exports and SMEs
Textile Growth
The textile sector remains the cornerstone of Pakistan’s traditional exports, showing significant growth in recent years.
Strengthening SMEs
The Small and Medium Enterprises Development Authority (SMEDA) has been revitalized; consequently, its performance and strategic direction will be reviewed on January 15 to ensure its full potential is realized.
Regional Relations
Malaysia and Indonesia
PM Shehbaz reaffirmed Pakistan’s commitment to fostering stronger ties with Malaysia. He also announced plans for discussions with the Indonesian president to explore avenues for boosting exports.
Security and Peace
Kurram Attack
Condemning the attack on a convoy in Kurram that injured Deputy Commissioner Javedullah Mehsud, the prime minister, therefore, called it a ‘malicious act’ aimed at destabilizing peace.
Combating Trafficking
The government is taking decisive steps to address human trafficking, with PM Shehbaz personally overseeing these efforts.
Hope for the Future
Vision for Stability
PM Shehbaz expressed optimism about Pakistan’s future; moreover, he emphasized the importance of hard work and sacrifice in order to achieve sustainable economic stability.
