UAE remains largest relief assistance provider to flood-affected people in Pakistan — envoy

Pakistan’s Defense Minister Khawaja Muhammad Asif participates in the cake cutting ceremony to celebrate the United Arab Emirates's 51st National Day in Islamabad, Pakistan, on December 1, 2022. (AN Photo)
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Updated 02 December 2022
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UAE remains largest relief assistance provider to flood-affected people in Pakistan — envoy

  • The embassy of the Arab state organized a colorful ceremony to celebrate its 51st National Day
  • The ceremony was also attended by senior Pakistani ministers, politicians and veteran diplomats

ISLAMABAD: The United Arab Emirates (UAE) has been the largest provider of humanitarian assistance to Pakistan’s flood-affected families, said its envoy on Thursday while addressing a ceremony in the federal capital to celebrate the 51st National Day of his country.
The event was organized by the UAE embassy to highlight the culture of the Arab state by setting up colorful stalls and arranging traditional dance performances.




UAE citizens performs traditional dance to celebrate their country's 51st National Day in Islamabad, Pakistan, on December 1, 2022. (AN photo)

Pakistan’s defense minister Khawaja Muhammad Asif cut the cake as the chief guest of the ceremony which was also attended by information minister Maryam Aurangzeb and other political leaders and diplomats.
UAE Ambassador Hamad Obaid Al-Zaabi welcomed the guest while pointing out his country’s relations with Pakistan had only become stronger with time.
“As the wise leadership of UAE always stood first to assist and provide humanitarian support to the brotherly Pakistani people, as and when needed in times of national crisis and natural calamities, it remained the largest relief assistance provider to the flood affectees,” he said.
Al-Zaabi noted an airbridge of humanitarian aid had been immediately established after the floods on the directives of President Sheikh Mohamed bin Zayed Al Nahyan.
“The airbridge of humanitarian aid established by UAE carried 57 flights to Pakistan and 205 containers carrying thousands of tons of foods, health packages and various shelter materials,” he continued.

Other than that, he added, several non-governmental organizations based in his country, such as the UAE Red Crescent and Khalifa bin Zayed Al Nahyan Foundation, were still working in the field to provide rescue and relief assistance to the survivors of the devastating floods.
Al-Zaabi said the UAE believed that the future of regional security depended on strong multilateral partnerships and a common commitment to stability and prosperity through peaceful political and economic means.
“As home to more than 200 nationalities from diverse ethnic and religious backgrounds, the UAE is deeply committed to safeguarding human rights and building upon its steady progress in this field,” he continued. “Over the years, the UAE has signed several treaties to protect human rights and, in October 2021, the UAE won the membership of the UN Human Rights Council for the 2022-2024 term for the third time in its history.”




The UAE embassy arranged a colorful event in Islamabad, Pakistan, on December 1, 2022, to celebrate the Arab state's 51st National Day. (AN photo)

The UAE envoy said his country had adopted strategies that stimulated economic diversification by moving away from oil and working for greater prosperity by relying on scientific and technological progress.
Speaking on the occasion, Pakistan’s information minister congratulated the government and people of UAE on their National Day on behalf of her country.
“The UAE is Pakistan’s largest trading partner and one of the largest foreign investors,” she said while adding that Pakistani people considered the Arab state as their second home.
“The two countries have established brotherly relations based on common heritage and multilateral cooperation,” she added.


Pakistan plans broader privatization push, eyes power utilities this year

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Pakistan plans broader privatization push, eyes power utilities this year

  • Considerably high losses, inefficiencies and mounting subsidies in power sector have dented Pakistan’s public finances
  • Finance Minister Muhammad Aurangzeb says 26 state-owned entities have been handed over to Privatization Commission

ISLAMABAD: Pakistan is widening a sweeping privatization program following the sale of its national airline last year, with power distributors next in line and more state companies to be handed to the Privatization Commission, the finance minister said on Monday.

Pakistan’s government successfully divested a 75 percent stake in the Pakistan International Airlines (PIA) in December last year. The move was part of Islamabad’s broader privatization program, which aims to reduce fiscal losses inflicted by loss-making state-owned enterprises (SOEs) by either privatizing or restructuring them.

Pakistani officials have said the Privatization Commission plans to divest the country’s electricity distribution companies in two batches. The first phase will include the Islamabad Electric Supply Company, Gujranwala Electric Power Company and Faisalabad Electric Supply Company, followed by Hyderabad Electric Supply Company and Sukkur Electric Power Company in the second batch. Considerably high losses, inefficiencies and mounting subsidies in the power sector have dented Pakistan’s public finances over the years, making it a central focus of Islamabad’s reform agenda.

Speaking at a news conference about Pakistan’s privatization program, Finance Minister Muhammad Aurangzeb said there are five power distribution companies to be privatized this year, out of which the sell-side advisers for three are Alvarez & Marsel. He said the Turkish Investment Bank has been entrusted with the task of being the sell-side advisers for the other two companies. 

“Overall, 26 SOEs have been handed over to the Privatization Commission,” Aurangzeb told reporters. “This decision is first made in the Cabinet Committee on SOEs, it then goes to the Cabinet Committee on Privatization, and then its overall approval is given by the prime minister and the cabinet.”

Aurangzeb vowed the government will take the privatization process forward with the same level of transparency as it had exhibited during the PIA sale last year. 

“And this will be taken forward with a lot of speed because we will not stop at 26 SOEs,” the finance minister said. “We will also gradually hand over other state institutions to the Privatization Commission,” he added. 

Speaking further about SOEs and their performances over the years, the minister said losses from the state entities decreased by about Rs74 billion [$264.6 million] over the last three years.

He said SOEs had reported losses of Rs905 billion [$3.24 billion] in 2023, Rs851 billion [$3.04 billion] in 2024 and Rs832 billion [$2.98 billion] in 2025.

Pakistan’s privatization push comes at the back of its efforts to ensure sustainable economic progress after a prolonged macroeconomic crisis that drained its foreign exchange reserves and triggered a balance of payments crisis.