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Finance Minister meets United Arab Emirates’ Minister

Islamabad, February 04, 2014 (PPI-OT): The Federal Minister for Finance, Economic Affairs, Revenue and Statistics Senator Muhammad Ishaq Dar held a meetings with Dr. Anwar Mohammad Gargash, Minister of State for Foreign Affairs in UAE Parliament in Abu Dhabi. The meeting was held on the sidelines of meeting with IMF in Dubai which are still continuing.

Finance Minister Senator Muhammad Ishaq Dar conveyed good wishes and prayers of the Prime Minister of Pakistan Muhammad Nawaz Sharif for the health and long life of the UAE President Sheikh Khalifa bin Zayed Al Nahyan.

Congratulating the United Arab Emirates on hosting Expo 2020, the Finance Minister said that Pakistan cherished its close brotherly relations with the United Arab Emirates. and praised its economic development as a manifestation of sound economic policies and wise leadership. Pakistan and UAE had always supported each other in multilateral forums, besides enjoying close and cordial relations, said the Finance Minister.

Reciprocating the greetings of the Prime Minister of Pakistan, the Minister of State said that Pakistan had always been a closed friend of the United Arab Emirates.

Dr. Anwar Mohammad Gargash appreciated the pro-business policies of the present government of Pakistan. He expressed his optimism that Pakistan would soon come out of its economic problems as an experienced leadership was at the helm of its affairs.

Pakistan needs to increase business outreach not only to public sector but also the private sector of UAE, he suggested. He said that a number of UAE nationals intend to go to Pakistan for investment because they were familiar with the country and its people. He assured that UAE government would extend support to Pakistan to attract foreign investment.

During the meeting the Finance Minister also discussed the outstanding payment of US$ 800 million by Etisalat. The Finance Minister said that though only a few properties remained to be transferred in the name of PTCL, Etisalat only held 26% of its shares.

During the meeting the Finance Minister also discussed the possibilities of favourable terms of payment of oil purchase by Pakistan from UAE.

The Minister of State said that the current year was a good year for UAE economy. He said that economy had again started picking up with increase activity in the tourism industry, banking and construction sectors.

The Finance Minister said that the present government believes in market economy and facilitation of businesses to enhance production, address unemployment and provide long term economic relief to the common man. In this connection, he said the government had taken a number of difficult decisions to bring in financial discipline.

Senator Ishaq Dar stated that the government was incentivizing oil and gas exploration to overcome energy shortages. He further said the said that Pakistan’s industry had shown a positive growth of 5.2 percent in the first quarter of FY-14 while revenue’s collection in January2014 was Rs 167 Billion indicating an increase of 26 percent over the collection of January last year which was a positive indicator that the revenue target would be achieved, he added. The Finance Minister invited the Minister of State for Foreign Affairs to visit Pakistan.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
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