Pakistan cherishes friendly bonds with UAE: Dar

[Dubious]

ISLAMABAD: Federal Minister for Finance, Economic Affairs, Revenue and Statistics Senator Ishaq Dar has said that Pakistan cherished close friendly ties with the people and the leadership of the United Arab Emirates (UAE).

He was talking to Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and Industry of the UAE. They discussed matters of bilateral interests, said a message received here from the Consulate General of Pakistan in Dubai on Wednesday.

The finance minister said the foundation of the close and fraternal relations between the brotherly countries was laid down by late Khalifa Zayed bin Sultan Al Nahyan and Sheikh Rashid bin Saeed Al Maktoum.

Sheikh Hamdan bin Rashid Al Maktoum expressed his optimism that the leadership of Pakistan would soon overcome challenges confronting the country.

He assured that his government would extend all possible cooperation for economic development of Pakistan and extended his best wishes for Prime Minister Muhammad Nawaz Sharif.

He appreciated the invaluable contributions of expatriate Pakistani community in the development of UAE.

The finance minister apprised him that Pakistan's economy had been put on track through enforcement of financial discipline.

He maintained that the government believed in market economy and facilitation of businesses to enhance economic growth.

Dar further said that Pakistan's industry had started showing positive growth of 5.2 percent. Revenue's collection in January 2014 was Rs 167 billion indicating an increase of 26 percent over the collection of January last year which was a positive signal to achieving full year target.

He said that prospects of utilizing the natural gas in Pakistan were bright as the government was incentivizing oil and gas exploration to overcome energy shortages by tapping indigenous natural resources and soon come up with a new exploration policy.

Sheikh Hamdan also recalled his visit to Karachi 11-12 years back and remarked that the city had since expanded.

The finance minister informed him that both Karachi and Lahore had expanded and developed rapidly while Lahore which had developed recently as a comparable city was attracting people in Pakistan.

Pakistan cherishes friendly bonds with UAE: Dar