Ishaq Dar, UAE FM discuss sustained momentum of multi-tiered cooperation

ISLAMABAD: Minister for Foreign Affairs (FM) Ishaq Dar on Friday received a congratulatory telephone call from his United Arab Emirates (UAE) counterpart Sheikh Abdullah bin Zayed Al Nahyan.

During the conversation, the two foreign ministers discussed the sustained momentum of multi-tiered cooperation between the two countries, Foreign Minister Dar wrote on his X.

“I look forward to working closely with His Highness in transforming the bilateral relations with the UAE into a mutually beneficial economic partnership,” the foreign minister added.

After formation of the government, former finance minister Ishaq Dar was named as the country’s foreign minister, at a time when growing economic and security challenges will dominate the nation’s foreign policy.

The senator is also a previous four-time finance minister, suggesting a ramped up role for economics in the nation’s diplomacy as the country tries to secure another International Monetary Fund Deal and shore up external financing from foreign capitals.

However, even his political allies have criticised his handling of the economy in his tenure as finance minister in the last coalition set-up, which took over in April 2022 after the removal of former Prime Minister Imran Khan in a parliament vote of confidence.

Inflation spiked as high as 38% and interest rates to 22% during Dar’s 16-month stint, mostly due to the IMF’s policy requirements.