Government’s talks with the UAE on setting up an oil refinery in Pakistan “reached final stage” during visit
Implementation of 40 development and humanitarian projects worth $200mn launched in the country
ISLAMABAD: Crown Prince of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates (UAE) Armed Forces Sheikh Mohammed bin Zayed Al-Nahyan departed from the capital after his day-long official visit to Pakistan.
Prime Minister Imran Khan received the crown prince at the Nur Khan airbase in Rawalpindi where an artillery unit honored him with a 21-gun salute, and the PM himself drove his guest to the Prime Minister House.
A Pakistani minister, speaking to Associated Press (AP), says the government’s talks with the UAE on setting up an oil refinery in Pakistan “reached their final stage” during the visit of the crown prince.
Pakistan’s Foreign Office Spokesperson Dr. Mohammad Faisal said on Sunday: “The crown prince, upon the invitation of Prime Minister Imran Khan, is visiting Pakistan after nearly 12 years.”
“This is the third interaction between the leadership of the two countries in less than three months, a testimony to the special nature of brotherly relations with the GCC country,” the statement added.
PM Khan, in order to acquire financial assistance to tackle Pakistan’s economic crisis, has visited the UAE twice since assuming office in August. In return, the UAE pledged $3billion in balance of payments support and oil supply on deferred payments.
“We are hoping the crown prince’s visit will result in Pakistan getting oil on a deferred payment facility, forex assistance to ease balance of payment’s difficulties, preferred investment contracts for UAE firms willing to work in Pakistan and cooperation on exchange of information on Pakistani persons holding assets in the UAE,” Dr Vaqar Ahmed, an economist who is also the joint executive director of a think-tank named Sustainable Development Policy Institute (SDPI), told Arab News.
During PM Khan’s visit to the UAE in November, the two countries agreed to chalk out a comprehensive roadmap to accelerate cooperation and partnership in areas specific to the trade, investment, economic development, energy, infrastructure, and agricultural sectors.
PM Khan and Sheikh Mohammed had also decided to hold the next Pakistan-UAE Joint Ministerial Commission, to be co-chaired by the respective Foreign Ministers, in Abu Dhabi, in February next month.
“A new page is being turned between both countries, $3 billion support to new Pakistani government proved to be a lifeline for the incumbent fiscal year,” Qamar Cheema, a strategic and political analyst, told Arab News.
“Pakistan needs to develop strategic partnership with the UAE as it’s too important to be ignored,” Cheema added.