UAE is acquiring Fauji Foundation shares: Ishaq Dar

ISLAMABAD: Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar said on Saturday that the United Arab Emirates (UAE) is set to acquire shares in the Fauji Foundation as part of ongoing economic cooperation between the two countries.

Addressing a press conference on the annual achievements and role of the Ministry of Foreign Affairs, Dar said Pakistan’s proactive, principled, and firm stance on key global issues has earned international recognition across various forums.

Referring to the recent visit of the UAE President, the deputy prime minister said the UAE would be acquiring some shares in Fauji Foundation and the investment is expected to help settle a $1 billion liability, while an additional $2 billion loan could be rolled over.

He expressed gratitude to the Kingdom of Saudi Arabia, the United Arab Emirates, and China for their support in strengthening Pakistan’s financial stability through loans and financial assistance.

Highlighting Pakistan’s improving relations with Bangladesh, Dar described the development as a “major thaw” achieved during the year.

He said his recent visit to Bangladesh was extensive and productive, during which he held meetings with the country’s chief executive, foreign minister, advisers, and political leaders, including Khaleda Zia, Jamaat-e-Islami representatives, and student groups.

“An environment of goodwill has been created, and following the February elections, we will further engage with Bangladesh,” he added.

The foreign minister also reiterated Pakistan’s principled stance on the Gaza situation and its continued support for a peaceful resolution of the Palestine issue.

About PTI’s recent protest in the United Kingdom, he termed it a sheer provocation in which the protestors hurled threats to kill, which was not acceptable at any cost.

Dar stressed that the UK government should take responsibility to prevent such provocations.

He added that Pakistan has formally conveyed its concerns to the UK authorities through a diplomatic demarche, calling it an appropriate and necessary step.