PM Shehbaz Sharif Embarks on First Official Visit to UAE
This visit underscores the Prime Minister’s commitment to bolstering Pakistan’s international relations and economic ties with the UAE.
Islamabad- Prime Minister Shehbaz Sharif has departed for a one-day official visit to the United Arab Emirates (UAE). Accompanying him on this important trip are Deputy Prime Minister and Foreign Minister Ishaq Dar, Defense Minister Khawaja Asif, Commerce Minister Jam Kamal Khan, Information Minister Attaullah Tarar, and Special Assistant Tariq Fatemi.
This visit marks Prime Minister Shehbaz Sharif’s first trip to the UAE since assuming office. During his stay, he is scheduled to meet with UAE President Mohammed bin Zayed Al Nahyan. The two leaders will discuss further enhancing the cooperation between Pakistan and the UAE.
Prime Minister Shehbaz Sharif is also set to engage with Pakistani and Emirati business leaders and investors, particularly those involved in the IT sector, to explore opportunities for collaboration and investment. Additionally, he will meet with high-ranking UAE officials and prominent Emirati business personalities to strengthen bilateral ties and foster economic partnerships.
This visit underscores the Prime Minister’s commitment to bolstering Pakistan’s international relations and economic ties with the UAE, reflecting a shared vision for mutual growth and development.
IMF and Pakistan to Begin New Loan Program Negotiations Following Parliamentary Approval of Loan Targets
Islamabad (Staff Reporter) – Negotiations for a new loan program with the International Monetary Fund (IMF) will commence after parliamentary approval of the loan targets. According to sources, today marks the final day of talks between Pakistani officials and the visiting IMF delegation, which will depart today or tomorrow without making any formal announcements. The recent discussions with the IMF were not aimed at securing a loan program.
Sources indicate that the IMF has gathered economic data from Pakistan and, after analyzing this data, has outlined the budget framework to Pakistani officials. Additionally, the IMF has informed Pakistani authorities about the targets for privatization and energy sector reforms, as well as the action plan for tax collection and Federal Board of Revenue (FBR) reforms for the upcoming fiscal year.
The next phase of negotiations will begin once the budget targets and framework receive parliamentary approval. This will be the first time Pakistan will start implementing all IMF demands or set implementation dates after parliamentary approval of the targets and framework before entering negotiations.
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Sources have revealed that discussions for the new loan program are set to begin at the end of June, with both the IMF and Pakistani officials striving to finalize an agreement before July 1. This proactive approach aims to ensure that the necessary reforms and targets are in place, paving the way for a successful loan program agreement.
