PM Shehbaz seeks investments, not loans during UAE trip

• The Prime Minister says we are looking for partnerships, not loans.
• Shehbaz stresses that IT skills should be promoted.
• Prime Minister pledges to transform Pakistan’s economy.

In his maiden visit as prime minister-elect, Shehbaz Sharif said Pakistan was seeking cooperation with friendly nations as “gone are the days” when officials would visit sister countries with begging bowls.

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

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

The prime minister said, addressing UAE President Mohammed bin Zayed Al Nahyan, who was not present at the event, said: “My dear brother, like your great father you supported Pakistan like a family member like a brother.”

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

The prime minister, whose government took office in March, said these partnerships would be mutually beneficial for investors and dividends would be reaped through hard work, ingenuity and modern tools and skills.

Stressing the need to promote IT skills to empower the youth, who are 60% of Pakistan’s population, the Prime Minister lauded the partnership between the UAE and Pakistani companies to promote digitization of the economy and expressed the desire to replicate it in Pakistan.

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

The prime minister expressed his government’s iron determination to completely transform Pakistan’s economy through cooperation, joint ventures and knowledge-sharing partnerships with the UAE.

The prime minister said 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 boost 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 Minsait (INDRA) Spain and Info Tech Group.

The Prime Minister also distributed awards to the executives of distinguished UAE companies that have investment portfolios in Pakistan.