ISLAMABAD: Nawaz Sharif, head of the ruling Pakistan Muslim League-Nawaz (PML-N) party, and Punjab Chief Minister Maryam Nawaz Sharif on Thursday met with United Arab Emirates (UAE) Ambassador Hamad Obaid Al-Zaabi in the Pakistani hill station of Murree and discussed with him cooperation in trade and several other sectors, the Punjab CM office said.
The UAE is Pakistan’s third-largest trading partner, after China and the United States as well as home to more than a million Pakistani expatriates and the second-largest source of remittances to Pakistan, after Saudi Arabia.
Policymakers in the South Asian country consider the Gulf state an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.
During the meeting, the two sides shared their views on the promotion of bilateral relations between the two brotherly countries, according to the Punjab CM office.
“Discussions were held on increasing cooperation in various fields, including agricultural research, technology and trade,” the CM office said in a statement, adding the two sides agreed to cooperate in increasing agricultural productivity and promoting food security.
“They reviewed possibilities in livestock development and dairy farming, besides considering investment promotion in pharmaceutical and other industrial sectors.”
Sharif and the Punjab CM also appreciated the UAE’s announcement of $10 billion investment in the South Asian country and thanked the Gulf nation for the assistance.
UAE President Sheikh Mohamed bin Zayed Al Nahyan made the announcement during a meeting with Pakistan Prime Minister Shehbaz Sharif last month, according to the Pakistani PM’s Office.
Sharif met the UAE president in Abu Dhabi on May 23 during a day-long trip to the Gulf country where he arrived with a high-level delegation, amid a concerted push by Pakistan to seek foreign investment as it navigates a challenging path to economic recovery.
The UAE is one of Pakistan’s closest allies and has frequently bailed out the South Asian country, joining Saudi Arabia and China in rolling over billions of dollars of loans to Pakistan last year to help it clinch a last-gasp deal with the International Monetary Fund (IMF) and avoid a sovereign debt default.
Pakistan ruling party chief, UAE envoy discuss cooperation in trade and other sectors
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Pakistan ruling party chief, UAE envoy discuss cooperation in trade and other sectors
- The UAE is Pakistan’s third-largest trading partner, after China and the US as well as home to more than a million Pakistani expats
- Policymakers in the South Asian country consider the Gulf state an optimal export destination due to its geographical proximity
EU, Pakistan sign €60 million loan agreement for clean drinking water in Karachi
- Project will finance rehabilitation, construction of water treatment facilities in Karachi city, says European Investment Bank
- As per a report in 2023, 90 percent of water samples collected from various places in city was deemed unfit for drinking
ISLAMABAD: The European Investment Bank (EIB) and Pakistan’s government on Wednesday signed a €60 million loan agreement, the first between the two sides in a decade, to support the delivery of clean drinking water in Karachi, the EU said in a statement.
The Karachi Water Infrastructure Framework, approved in August this year by the EIB, will finance the rehabilitation and construction of water treatment facilities in Pakistan’s most populous city of Karachi to increase safe water supply and improve water security.
The agreement was signed between the two sides at the sidelines of the 15th Pak-EU Joint Commission in Brussels, state broadcaster Radio Pakistan reported.
“Today, the @EIB signed its first loan agreement with Pakistan in a decade: a €60 million loan supporting the delivery of clean drinking water for #Karachi,” the EU said on social media platform X.
Radio Pakistan said the agreement reflects Pakistan’s commitment to modernize essential urban services and promote climate-resilient infrastructure.
“The declaration demonstrates the continued momentum in Pakistan-EU cooperation and highlights shared priorities in sustainable development, public service delivery, and climate and environmental resilience,” it said.
Karachi has a chronic clean drinking water problem. As per a Karachi Water and Sewerage Corporation (KWSC) study conducted in 2023, 90 percent of water from samples collected from various places in the city was deemed unsafe for drinking purposes, contaminated with E. coli, coliform bacteria, and other harmful pathogens.
The problem has forced most residents of the city to get their water through drilled motor-operated wells (known as ‘bores’), even as groundwater in the coastal city tends to be salty and unfit for human consumption.
Other options for residents include either buying unfiltered water from private water tanker operators, who fill up at a network of legal and illegal water hydrants across the city, or buying it from reverse osmosis plants that they visit to fill up bottles or have delivered to their homes.
The EU provides Pakistan about €100 million annually in grants for development and cooperation. This includes efforts to achieve green inclusive growth, increase education and employment skills, promote good governance, human rights, rule of law and ensure sustainable management of natural resources.
