Pakistan, UAE sign ‘historic’ MoUs worth ‘multi-billion dollars’

Pakistan and the United Arab Emirates on Monday signed memorandums of understanding (MoU) pertaining to investment cooperation that will unlock “multi-billion dollars” in funding from the Mideast state. The development came in a meeting between caretaker Prime Minister Anwaarul Haq Kakar and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi during the former’s week-long trip to the Middle East. The Prime Minister’s Office (PMO) said the MoUs in the sectors of energy, port operations, wastewater treatment, food security, logistics, minerals, and banking and financial services will unlock “multi-billion dollars of investment from the UAE into Pakistan and will help realise various initiatives envisioned under the Special Investment Facilitation Council (SIFC)”. The prime minister termed the signing of MoUs as “a historic event that will usher in a new era of Pak-UAE economic partnership.”