HomeBusinessPM Shehbaz seeks investments, not loans during UAE tour Achi-News

PM Shehbaz seeks investments, not loans during UAE tour Achi-News

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Achi news desk-

Prime Minister Shehbaz Sharif addressing an event in United Arab Emirates, on May 23, 2024. – Radio Pakistan
  • PM says seek collaborations, not loans.
  • Shehbaz emphasizes the need to boost IT skills.
  • PM promises to transform Pakistan’s economy.

In his first visit as prime minister-elect, Shehbaz Sharif has said that Pakistan is trying to cooperate with friendly countries as “gone are the days” when officials visit brotherly countries with begging bowls.

“Gone are the days when I go to our brotherly countries with a begging bowl. I have broken that bowl,” said the prime minister, who is on a day-long visit to the United Arab Emirates, on Thursday during a session in Abu Dhabi, the Gulf. state capital.

Pakistan and the UAE have long-standing fraternal ties deeply rooted in religio-cultural affinity. Frequent high-level exchanges are a distinguishing feature of fraternal relations between the two countries.

The Prime Minister, addressing the President of the United Arab Emirates Mohammed bin Zayed Al Nahyan who was not present at the event, said: “My dear brother, like your great father you have supported Pakistan as a member of the family like a brother.”

“But today,” he said, “I am here in this great country, this great fraternal country not to seek loans but to seek collaborations, to seek joint investments,” he said.

The prime minister, whose government came into power in March, said these collaborations would bring mutual benefits to the investors and dividends would be reaped through hard work, ingenuity, and tools and modern skills.

Emphasizing the need to promote IT skills to empower the youth, which is 60% of Pakistan’s population, the Prime Minister approved the collaboration between the UAE and Pakistani companies to promote the digitization of the economy and expressed the desire to replicate this in Pakistan.

He expressed the commitment to provide the highest quality vocational training with modern skills so that they can come to UAE by fulfilling legal formalities.

The chief officer expressed his government’s iron-clad resolve to completely transform Pakistan’s economy through collaboration, joint ventures, and knowledge-sharing partnerships with the UAE.

The Prime Minister said that his government is fully focused on how to promote information technology and artificial intelligence in various sectors of Pakistan’s economy, including agriculture, mines and minerals, and industry to improve exports.

On the occasion, three agreements were signed between Pakistani and UAE companies. These agreements were signed between Labware Arabia and Maison Consulting, Info-Tech Group and 800 Inc Holdings, as well as Spain’s Minsait (INDRA) and Info Tech Group.

The PM also distributed awards among executives of prominent UAE companies that have investment portfolios in Pakistan.

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