ISLAMABAD: A high-ranking delegation from the United Arab Emirates (UAE) on Tuesday called on Pakistan’s deputy prime minister, Ishaq Dar, and discussed with him investment in Pakistan’s maritime, railways and aviation sectors, Dar’s office said.
The development comes amid a push for foreign investment by the South Asian country, which has been facing low foreign exchange reserves, currency devaluation and high inflation for the last one year.
Since avoiding a default last year, Pakistan has been making desperate attempts to revive its fragile $350 billion economy and reached a staff-level agreement with the International Monetary Fund (IMF) in July for a new $7 billion loan.
The UAE delegation, which called on the deputy prime minister, was led by Sheikh Ahmed Dalmook Al-Maktoum, according to Dar’s office.
“The talks focused on investment opportunities in Pakistan’s maritime, railways, and aviation sectors,” it said in a statement on Tuesday.
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 in support to the South Asian country.
In May, UAE President Sheikh Mohamed bin Zayed Al-Nahyan announced $10 billion investment in Pakistan during a visit by Prime Minister Shehbaz Sharif to the Gulf country, according to Sharif’s Office.
The South Asian nation this year also signed an agreement with the Abu Dhabi (AD) Ports Group, which will be investing about $395 million for the development of a container and cargo terminal under a government-to-government (G2G) agreement between the UAE and Pakistan.
High-ranking UAE delegation in Pakistan to discuss maritime, railways, aviation investments
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High-ranking UAE delegation in Pakistan to discuss maritime, railways, aviation investments
- The development comes amid Pakistan’s push for investment to revive its $350 billion economy
- The UAE is one of Pakistan’s closest allies and has frequently bailed out the South Asian country
Customs seize narcotics, smuggled goods, vehicles worth $4.9 million in southwest Pakistan
- Customs seize 22.14 kg narcotics, consignments of smuggled betel nuts, Hino trucks, auto parts, says FBR
- Smuggled goods enter Pakistan’s Balochistan province from neighboring countries Iran and Afghanistan
ISLAMABAD: Pakistan Customs seized narcotics, smuggled goods and vehicles worth a total of Rs1.38 billion [$4.92 million] in the southwestern Balochistan province on Tuesday, the Federal Board of Revenue (FBR) said in a statement.
Customs Enforcement Quetta seized and recovered 22.14 kilograms of narcotics and consignments of smuggled goods comprising betel nuts, Indian medicines, Chinese salt, auto parts, a ROCO vehicle and three Hino trucks in two separate operations, the FBR said. All items cost an estimated Rs1.38 billion, it added.
Smuggled items make their way into Pakistan through southwestern Balochistan province, which borders Iran and Afghanistan.
“These operations are part of the collectorate’s intensified enforcement drive aimed at curbing smuggling and dismantling illegal trade networks,” the FBR said.
“All the seized narcotics, goods and vehicles have been taken into custody, and legal proceedings under the Customs Act 1969 have been formally initiated.”
In the first operation, customs officials intercepted three containers during routine checking at FEU Zariat Cross (ZC) area. The containers were being transported from Quetta to Pakistan’s Punjab and Khyber Pakhtunkhwa provinces, the FBR said.
The vehicles intercepted included three Hino trucks. Their detailed examination led to the recovery of the smuggled goods which were concealed in the containers.
In the second operation, the staff of the Collectorate of Enforcement Customs, Quetta, intercepted a ROCO vehicle at Zariat Cross area with the local police’s assistance.
The driver was interrogated while the vehicle was searched, the FBR said.
“During interrogation, it was disclosed that drugs were concealed inside the spare wheel at the bottom side of the vehicle,” it said.
“Upon thorough checking, suspected narcotics believed to be heroin was recovered which was packed in 41 packets, each weighing 0.54 kilograms.”
The narcotics weighed a total of 22.14 kilograms, with an estimated value of Rs1.23 billion in the international market, the FBR concluded.
“The Federal Board of Revenue has commended the Customs Enforcement Quetta team for their effective action and reiterated its firm resolve to combat smuggling, illicit trade and illegal economic activities across the country,” it said.
