PM Shehbaz Says in UAE to Seek Joint Investments, Not to Ask for Loans

Prime Minister Shehbaz Sharif Thursday said that he was in the United Arab Emirates (UAE) not to seek loans but for joint collaborations and investments.

Addressing a roundtable conference on “Innovate together: UAE-Pakistan Tech Collaboration” during his daylong visit, the premier said “Gone are the days when I will go to a brotherly country with a begging bowl. I have broken that bowl. The bowl will lead us nowhere. When was the last time that a country prospered through aid and bowls? Only the nations made their mark and left indelible footprints through sacrifice, hard work, sweat, and blood.”

He said that in his scheduled meeting with the UAE President, he would not seek any loan but joint collaboration and joint investments to have mutual benefits for investors.

Explaining the parameters of his government’s program, he said the Pakistani workers would be imparted the highest standard of vocational training so that they come to UAE and open their offices, provide remote services, and make a livelihood.

“I am prepared to take that risk because nothing can be achieved without taking risks. I am ready to move forward in this field,” he told the ceremony where three MoUs were signed between Pakistani and UAE IT companies to implement digital transformation.

He appreciated the vision of UAE president’s taking lead in IT, artificial intelligence and constructing information infrastructure on modern lines to build the national economy which should not be dependent on oil and gas, and making the country a hub of imports and exports.

Lauding the Pakistani IT professionals playing their role in digitizing the UAE economy, he said, “That is what we need to replicate in Pakistan. Pakistan offers great potential in terms of its population with 60 percent comprising youth aged 15-30 years.”

“We want to transform our economy. I have an iron resolve to completely transform the economy of Pakistan in collaboration with UAE, be it a joint venture, collaboration or knowledge-sharing partnership.

The event was also attended by the Foreign Minister Muhammad Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Defence Khawaja Asif, Minister for Information Attaullah Tarar, and Minister of State for IT and Telecom Shaza Fatima Khawaja.

Get Alerts

Follow ProPakistani to get latest news and updates.

ProPakistani Community

Join the groups below to get latest news and updates.