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UAE economic experts due to arrive in Pakistan on Tuesday

Chacha_Facebooka

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ISLAMABAD: A team of economic experts from the United Arab Emirates is due to arrive in Pakistan tomorrow to discuss the implementation of decisions taken by the top leaders of the two countries.
Prime Minister Shehbaz Sharif went to the Gulf state over the weekend after completing his three-day official visit to Saudi Arabia where he met Crown Prince Mohammed bin Salman and performed Umrah.
During his stay in the UAE, Sharif met Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan and held extensive consultations on a range of bilateral, regional and international issues.
The two leaders agreed to further consolidate bilateral trade and economic cooperation and decided to build partnerships in areas encompassing investment, economic development, energy, infrastructure and agriculture.
“An economic team will arrive for the implementation of decisions taken by the leadership of Pakistan and the United Arab Emirates,” said an official statement circulated by the PM Office on Monday. “The UAE delegation will meet Prime Minister Shehbaz Sharif in Lahore on May 3.”
The statement added the economic delegation from the Gulf country would interact with experts assisting the prime minister.
They will also deliberate on recommendations to accelerate the pace of economic activities between the two countries.
“Prime Minister Shehbaz Sharif will host a dinner in honor of the delegation,” the statement added. “The meetings will focus on economic, trade and investment promotion between the two countries. The delegation will also be briefed on the investment climate and policy in Pakistan. Apart from that, cooperation in the fields of energy, economics and petroleum industry will be discussed.”
The Pakistani PM and the Abu Dhabi crown prince agreed to remain in regular contact with each other on all issues of mutual interest as well as coordinate positions at multilateral forums including the United Nations and the Organization of Islamic Cooperation during their recent meeting.
“The Crown Prince assured the Prime Minister about making effective moves toward strengthening closer bilateral fraternal ties for the benefit of future generations of the two countries,” an earlier statement from the PM Office informed. “He acknowledged with gratitude the constructive role played by Pakistanis in the development of the UAE when others had limited presence and contribution.”
The UAE royal also maintained that the two countries had always stood with each other during good and bad times, adding they would “continue to extend support to each other in future.”
The prime minister praised the UAE for launching humanitarian projects in his country under the UAE-Pakistan Assistance Program and extending crucial support to Islamabad during the COVID-19 pandemic.
Sharif also thanked the Abu Dhabi crown prince for hosting 1.7 million Pakistanis with honor and dignity, saying they were not only a bridge between Pakistan and the UAE but also a source of pride for his country.
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RescueRanger

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Hyde

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Arabs are good for nothing

They promise big but end up building nothing

They are good in offering loans, selling oil on deferred payments and charity but not good enough for investment and business
 

RescueRanger

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“Smart cities”… 😂

What Pakistan needs is fuel and long-term environmentally sustainable infrastructure along with power generation from renewables.

What the hell is this?
 

RescueRanger

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People were making fun of Shabaz not getting a good reception in UAE :disagree:
You do know the at the last intervention from the UAE in Pakistan was in the form of soft-loans with the caveat that the suppliers and consultants would be solely from the UAE - hence the loan was actually to generate jobs and business to benefit UAE…

Right ? Right ?


People forget about how the Abu Dhabi and UAE groups basically abandoned investments in Pakistan including the BCCI and Wateen/Warid telecom - which btw until as late as 2014 was the only telecom company not to bid for a 3G / LTE license because the “taps” of finance had been turned off at the source in the UAE by Sheikh Nahayan.

Of course what the Noon league will fail to mention here is that the CEO of Abu Dhabi Group met with now former PTI CM Usman Buzdar in April 2019 to discuss a range of investment opportunities - one of which were two “Smart Cities” and a power plant in Punjab:

1651549984574.jpeg


Sound familiar?

Be reminded that Abu Dhabi Groip has an existing small portfolio including Bank Alfalah, Warid/Wateen Telecom and shared in UBL among other things:

1651550137700.jpeg


So forgive us Pakistanis who actually lives through these graveyard of failed investments and empty promises if we are a tad skeptic.
 

SQ8

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“Smart cities”… 😂

What Pakistan needs is fuel and long-term environmentally sustainable infrastructure along with power generation from renewables.

What the hell is this?
They want Gwadar shut down and Karachi for their firms - Dubai’s status as trading hub remains.

Nothing is free and the UAE is in terms of its bureaucracy and clerical staff an Indian ally.
No blame on the Khaleejis as the Indians have contributed to their economy in terms of business setup while the most Pakistanis are there for is labor or crime(drugs and prostitution)
 

Wood

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You do know the at the last intervention from the UAE in Pakistan was in the form of soft-loans with the caveat that the suppliers and consultants would be solely from the UAE - hence the loan was actually to generate jobs and business to benefit UAE…

Right ? Right ?
This is how soft loans work everywhere. Japanese loans to India, the recent Indian loan to Bangladesh, Chinese loans to Pakistan (CPEC) are some examples. Soft loans are free money for borrowing party because of low interest when you account for time value of money. What does the creditor country get in return? This clause makes it a win win.

IMO, soft loans are not good if:

a) Interest for loans are high
b) Projects realized through this money do not help generate future economic growth or do not improve public infrastructure used by common citizens (like statutes and monuments)
c) Low skilled labor to implement project is brought from overseas.

The first and last are unlikely to happen with UAE.
 

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