Abu Dhabi Crown Prince arrives in Pakistan, UAE investment, assistance package $7.2 billion

Abu Dhabi Crown Prince and Deputy Supreme Commander of the United Arab Emirates Armed Forces, Sheikh Mohammed bin Zayed Al Nahyan.

Pakistan Prime Minister Imran Khan received Abu Dhabi Crown Prince and Deputy Supreme Commander of the United Arab Emirates (UAE)’s Armed Forces, Sheikh Mohammed bin Zayed Al Nahyan, on Sunday at PAF Nur Khan Airbase.

The crown prince was given a 21-gun salute on his arrival.

He is here on one-day visit. He last visited Pakistan in January, 2007.

Reportedly, the United Arab Emirates is about to induct $03 billion cash deposit into the Pakistan economy and $3.2 billion worth of oil supplies on deferred payments for one year to overcome international payment crisis and deal with International Monetary Fund.

A proposal to provide oil facility on deferred payment was also discussed in the meeting.

Earlier, Pakistan received $2 billion in cash from Saudi Arabia at an interest rate of 3.18 percent.

The prime minister himself drove the crown prince from airport to the PM House where a formal welcome ceremony was held for Sheikh Mohammed bin Zayed Al Nahyan.

The Federal cabinet ministers including Information Minister Fawad Chaudhry, State Minister for Interior Sheryar Afridi, Finance Minister Asad Umar and others also met Sheikh Muhammed bin Zayed Al Nahyan.

According to Foreign Office, this is the third interaction between the leadership of Pakistan and the United Arab Emirates in less than three months.

The UAE is Pakistan’s largest trading partner in the Middle East.

More than 1.6 million Pakistani expatriates reside in UAE who contribute around $4.5billion annually to its GDP.