Pakistan to pay $1 billion for UAE liability through deal with Fauji Group


Deputy Prime Minister and Foreign Minister Ishaq Dar addresses a press conference in Islamabad on Friday to review Pakistan’s diplomatic performance in 2025.

ISLAMABAD:

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Saturday reiterated that Pakistan, once termed as “diplomatically isolated”, had emerged strong and prominent diplomatically, politically and economically among the community of nations, due to the dynamic policies of the incumbent government.

The DPM/FM, presenting the annual achievements and role of the Ministry of Foreign Affairs at a press conference, said its proactive, firm and principled stance on key global issues has won praise and recognition at global forums.

Referring to the recent visit of the UAE President, he said that the UAE would acquire some shares of the Fauji Group and that they expected a liability of $1 billion to be settled through their investment, adding that the other loan of $2 billion could be implemented.

The MPD/FM expresses its gratitude to the Kingdom of Saudi Arabia, the United Arab Emirates and China for their support to the financial stability of Pakistan by extending their lending facilities.

Dar said that Pakistan’s international standing among the community of nations had improved due to its proactive and principled stance and also thanked the national media for projecting the country’s image.

He said that when the PDM government was formed, “Pakistan was known as a diplomatically isolated country. But now Pakistan’s key role is recognized in the community of nations.”

The DPM/FM said that during the four-day armed conflict with India, the alleged Indian hegemony and its whim as a network security provider in the region were tested and shattered.

The Ministry of External Affairs remained active after the Pulwama incident, in which India falsely accused Pakistan, adding that the country’s defense was now strong and firm.

He reiterated that during Indian aggression, Pakistan responded responsibly as it always stood for peace.

Dar said the country’s nuclear and missile capabilities had made the country’s defense strong and invincible.

He emphasized that they had now focused on turning the country into an economic power and once they acquired that status, they could lead the Ummah.

Dar further reiterated that unless the issue of Jammu and Kashmir is resolved, perpetual and permanent peace cannot be established in the region. Pakistan had strongly protested and opposed India’s illegal measures over Indian Illegally Occupied Jammu and Kashmir, and the issue once again came to the global spotlight.

The UN Security Council session discussed human rights violations in IIOJK, he said, highlighting that only a plebiscite involving Kashmiris, as enshrined in UN Security Council resolutions, could be the only solution to the problem.

Regarding the Indus Waters Treaty (IWT), he said that they were actively engaged in addressing the issue at the OIC, the Permanent Court of Arbitration and the UN and their reports were favorable to Pakistan’s position.

Terming the growing bilateral ties with Bangladesh as a “major thaw” achieved this year, he cited his visit to the country as extensive and engaging, where he held extensive meetings with the chief executive, foreign minister and other advisors and also met Khaldia Zia, Jammat-e-Islami and the students’ party.

“An atmosphere of goodwill was created and after the February elections, we will involve them more,” he added.

Regarding ties with the United States, he said they remained up and down, while during the previous administration of President Biden, the two countries were not engaged, but in the recent administration, trade, investment and bilateral ties were on a positive trajectory.

Anti-terrorist collaboration was also strengthened, he added.

The DPM/FM praised the Trump administration and said the United States played an important role in a ceasefire between Pakistan and India.

On June 11, they had nominated President Trump for the Noble Peace Prize for his role in bringing peace, he said, adding that President Trump had time and again cited the downing of seven Indian aircraft.

He also expressed satisfaction over bilateral trade with the United States worth $13.28 billion and said the reduced tariff from the United States to Pakistan had been the lowest in South Asia.

The DPM/FM, responding to different media queries, also highlighted the participation of Pakistan’s leadership and meetings with its counterparts from various countries including Turkiye, OIC member states, China, EU, ASEAN, UN, SCO and Russia in various bilateral and multilateral forums.

He said several agreements on economic, defense and investment were signed to enhance the country’s global reach.

The DPM/FM also highlighted Pakistan’s principled stance and the role played for peace in Gaza and resolution of the Palestinian issue.

He also explained in detail that dialogue, commitment, regional stability; economic collaboration and the pursuit of peace were the basic contours of its foreign policy that aligned with national interests.

On the PTI protest in the UK, he called it a pure provocation in which protesters issued death threats, which was not acceptable at any cost.

The DPM/FM stressed that the UK government should take responsibility for preventing such provocations. If such incidents occurred in other countries, the government would take up the issue and add that they had taken action that was a correct measure.

He also expressed dismay over the Taliban regime’s response for not taking concrete and tangible measures against terrorists operating from Afghan soil and carrying out terrorist attacks inside Pakistan.

The DPM/FM said that it was only India that was sinking the functioning of SAARC, which was unfortunate.

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