‘Not here to seek loans’: Pakistan needs to replicate UAE model of transforming economy, says PM

Seeking investment avenues, Prime Minister Shehbaz Sharif, currently on a day-long visit to the United Arab Emirates (UAE), said Thursday that Pakistan needs to replicate measures taken by the UAE to transform its economy.

Addressing the Pakistani and UAE business persons and investors, the prime minister said he sought collaborations between the two friendly countries.

“Today, I am here in this great brotherly country not to seek loans, but collaboration and investment, which has mutual benefit for the investors,” he said.

PM Shehbaz lauded the role of UAE’s leadership for transforming the country’s economic landscape.

“Under the dynamic leadership of the President of UAE Mohamed bin Zayed Al Nahyan, the country is taking the lead in information technology, AI, and constructing information infrastructure on modern lines,” he said.

He said that the efforts in the UAE must be “replicated in Pakistan”.

“Pakistan offers great potential in terms of its population, the majority of which is comprised of youth, constituting 60% of the entire population,” he added.

The prime minister lauded the UAE’s president for “carving out a way forward, which will not depend on oil and gas.”

“We want to transform our economy, and I am committed to completely transforming Pakistan’s economy in collaboration with UAE, through joint ventures, knowledge-sharing partnership’s and collaborations.

He said that seeking aid from others will lead the country nowhere. Shehbaz stressed learning from UAE expertise and experience.

“I would like to ask the UAE President to offer their experts to train our people,” he added.

Earlier, the prime minister arrived on Thursday on a day-long visit with reports suggesting that investment in Pakistan will be high on his agenda.

This is the premier’s first visit to the UAE since the election in February this year. The PM is accompanied by a high-level delegation comprising key ministers of the cabinet.

Shortly after his arrival, the PM in a post on X said that he was looking forward to a “fruitful” exchange of views with the UAE leadership.

Meanwhile, the premier was welcomed by UAE Vice President and Deputy PM Sheikh Mansour bin Zayed Al Nahyan.