Karachi, The United Arab Emirates (UAE) is set to invest up to $25 billion in Pakistan, a move aimed at revitalizing the country’s economy. This significant investment was announced by Captain Abdul Rashid Abro, former Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and leader of the Central Businessmen’s Forum.
According to Federation of Pakistan Chambers of Commerce and Industry, Captain Abdul Rashid Abro highlighted the UAE’s longstanding support for Pakistan, especially in challenging times. He lauded the efforts of the UAE’s appointed Consul General in Karachi, Dr. Bakhit Atiq al-Rumithi, for his role in facilitating this investment. Captain Abro emphasized that Dr. al-Rumithi has exemplified excellent and authentic diplomatic work.
The investment from the UAE is expected to bring Pakistani and Emirati businesses closer, fostering economic stability in Pakistan and boosting the country’s exports. The initiation of this substantial $25 billion investment will play a critical role in stabilizing Pakistan’s economy.
Furthermore, Captain Abro drew attention to the global challenges posed by climate change, acknowledging Pakistan’s severe losses due to environmental shifts. He praised the announcement of the establishment of a dollar climate fund, aimed at addressing global climate change issues. This fund is expected to encourage an investment of $250 billion by 2030.
Captain Abro also expressed his optimism over the UAE’s proposal to join the China Pakistan Economic Corridor (CPEC). He believes that the UAE’s inclusion in CPEC will significantly enhance the strength and impact of the project.
The announcement of the UAE’s investment in Pakistan, particularly at a time when the country is grappling with economic challenges and climate change effects, marks a significant development in strengthening Pakistan’s economic and diplomatic ties with the UAE.
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