Islamabad: Deputy Prime Minister Ishaq Dar announced that the United Arab Emirates (UAE) will take a stake in Pakistan’s Military Foundation Group, effectively resolving a $1 billion rollover liability. Speaking at a press conference, Dar said that the UAE had previously provided $3 billion, and a few weeks ago, $1 billion was due for rollover. Pakistan engaged the UAE to convert this portion into equity, which will reduce the country’s external liability.
Dar explained that several meetings had been held regarding the shareholding arrangement, and it is expected that the transaction will be completed by March 31, thereby eliminating the $1 billion rollover obligation.
He also mentioned that during a recent meeting, discussions took place regarding the rollover of an additional $2 billion scheduled for January. Efforts will be made to channel these funds into investment in Pakistan, which is expected to further strengthen the country’s economic position.
The Deputy Prime Minister highlighted that this arrangement not only addresses immediate financial liabilities but also enhances investor confidence, providing a clear signal of Pakistan’s commitment to resolving external debt obligations while promoting domestic economic growth.
This development underscores ongoing efforts by the Pakistani government to secure foreign investment and maintain macroeconomic stability amidst global financial uncertainties.
