ISLAMABAD – The United Arab Emirates (UAE) has rolled over its $2 billion deposits placed with State Bank of Pakistan (SBP) for another term, a move that will help the government to continue its efforts to revive the economy.
Prime Minister Shehbaz Sharif made the announcement after he held a one-on-one meeting with UAE President Sheikh Mohammed bin Zayed Al Nahyan in Rahim Yar Khan. He said both countries enjoy brotherly relations.
He said stability is returning to the economy due to efforts of every member of the government, adding: “The day is not far when we will become a prosperous nation and achieve our rightful place.”
He appreciated growth in textile-led exports, saying this sector can play a key role in development of the country.
The prime minister said until the price of electricity is reduced, industry, agriculture, commerce, and exports cannot progress. He said we will have to go to the IMF to keep the economic reforms on the track.
He also expressed concerns over incidents of human smuggling. He said hundreds of Pakistanis have lost their lives in the past two to three years.
He said there has been significant progress in meetings on human trafficking. The interior minister, his team, and relevant institutions are working on it.
“I am personally holding meetings to ensure that human trafficking can be eradicated once and for all,” he said.
