ANL 29.15 Increased By ▲ 0.63 (2.21%)
ASC 16.50 Decreased By ▼ -0.18 (-1.08%)
ASL 25.15 Increased By ▲ 1.39 (5.85%)
AVN 99.18 Increased By ▲ 4.94 (5.24%)
BOP 9.51 Increased By ▲ 0.04 (0.42%)
BYCO 9.36 Decreased By ▼ -0.20 (-2.09%)
DGKC 112.10 Increased By ▲ 1.60 (1.45%)
EPCL 47.55 Increased By ▲ 0.10 (0.21%)
FCCL 21.50 Increased By ▲ 0.22 (1.03%)
FFBL 28.84 Increased By ▲ 0.87 (3.11%)
FFL 19.23 Decreased By ▼ -0.04 (-0.21%)
HASCOL 14.08 Decreased By ▼ -0.23 (-1.61%)
HUBC 86.75 Increased By ▲ 0.75 (0.87%)
HUMNL 7.25 Decreased By ▼ -0.05 (-0.68%)
JSCL 32.39 Increased By ▲ 0.92 (2.92%)
KAPCO 40.81 Increased By ▲ 0.08 (0.2%)
KEL 4.18 Increased By ▲ 0.07 (1.7%)
LOTCHEM 15.99 Decreased By ▼ -0.21 (-1.3%)
MLCF 43.90 Increased By ▲ 0.89 (2.07%)
PAEL 40.06 Increased By ▲ 0.20 (0.5%)
PIBTL 13.04 Increased By ▲ 0.13 (1.01%)
POWER 11.65 Increased By ▲ 0.25 (2.19%)
PPL 93.72 Increased By ▲ 0.42 (0.45%)
PRL 23.80 No Change ▼ 0.00 (0%)
PTC 9.37 Increased By ▲ 0.07 (0.75%)
SILK 1.22 Increased By ▲ 0.02 (1.67%)
SNGP 44.60 Increased By ▲ 0.27 (0.61%)
TRG 114.93 Increased By ▲ 6.45 (5.95%)
UNITY 33.68 Increased By ▲ 0.53 (1.6%)
WTL 1.09 Decreased By ▼ -0.03 (-2.68%)
BR100 4,881 Increased By ▲ 25.72 (0.53%)
BR30 25,115 Increased By ▲ 390.97 (1.58%)
KSE100 46,088 Increased By ▲ 219.6 (0.48%)
KSE30 19,166 Increased By ▲ 104.54 (0.55%)

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) Saturday hailed the United Arab Emirates announcement to deposit US$3 billion in the State Bank of Pakistan to support the financial and monetary policy of the country and termed it a highly positive development as it would provide crucial financial cushion to the weak foreign exchange reserves of Pakistan.

Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce and Industry said that UAE has come forward to provide support to Pakistan at a time when the country was facing serious liquidity challenges.

He said that generous support for Pakistan at testing times showed that UAE was a close friend of Pakistan and it wanted to see Pakistan a strong economy.

He said that UAE’s generosity for Pakistan would further deepen and strengthen the bilateral relations between the two friendly countries. Ahmed Hassan Moughal said that during the last visit of Prime Minister of Pakistan Imran Khan to UAE, the leadership of both the countries had agreed to transform their bilateral relations into long term strategic economic partnership.

He said both sides had also resolved to strengthen trade and economic ties and eliminate all impediments to seamless flow of trade and investment between the two countries.

He said that Pakistan and UAE should further strengthen connectivity between their private sectors to maximize bilateral trade, investment, JVs and economic relations between the two friendly countries.

Rafat Farid, Senior Vice President and Iftikhar Anwar Sethi, Vice President Islamabad Chamber of Commerce and Industry said that Pakistan offered huge opportunities for foreign investments and joint ventures in various sectors of its economy including infrastructure development, power generation, water management, agricultural based industries, insurance and real estate.

They stressed that UAE’s investors should take maximum benefits of these opportunities by further enhancing their Joint Ventures and investment in CPEC and in other sectors of Pakistan’s economy.