Prime Minister Shehbaz Sharif to Welcome UAE President in Rahim Yar Khan

Prime Minister Shehbaz Sharif is scheduled to visit Rahim Yar Khan on Wednesday to receive the President of the United Arab Emirates (UAE) Sheikh Mohammed bin Zayed Al Nahyan and deliberate on issues of bilateral interest.

The two leaders met in Abu Dhabi earlier this month where Sharif led a delegation of senior cabinet members to discuss trade, investment, and economic relations.

“Prime Minister Muhammad Shahbaz Sharif will reach Rahim Yar Khan today on a one-day visit,” said a statement issued by his office earlier in the day. “The Prime Minister will receive His Excellency the President of the United Arab Emirates Mohammed bin Zayed Al Nahyan at Chandna Airport Rahim Yar Khan on his arrival in Pakistan. Later, the two leaders will discuss further development of brotherly relations between Pakistan and the UAE along with other issues.”

Last week, the UAE announced to roll over its existing deposit of $2 billion in Pakistan’s central bank after President Al Nahyan agreed to lend an additional $1 billion to help the administration in Islamabad which has been actively seeking external financing from allies and multilateral organizations.

Pakistan has been reeling from last year’s devastating floods that caused damages of more than $30 billion. The country is also witnessing rapid depletion of its forex reserves amid a mounting current account deficit and depreciating national currency.

The UAE and Pakistan are striving to increase the quantum of bilateral trade which reached $10.6 billion in the last calendar year.

Crafts international and UAE news into concise pieces, catering to today's busy readership.