UAE-Pakistan talks on oil refinery at end stage

After Saudi UAE To Give Over $6 Billion Aid Package To Pakistan Report

UAE-Pakistan talks on oil refinery at end stage

Sheikh Mohammed departed for the UAE Sunday afternoon.

The UAE announced on December 21 a $3 billion bailout package for Pakistan to overcome its balance of payment issue under its Abu Dhabi Fund for Development.

Professor Tahir Malik, a foreign affairs analyst, said that Pakistan's relations with the UAE had soured during the previous PML-N government's rule and "it is heartening to see the leadership of both the countries forging the bilateral relationship again".

Al Nahyan, who is also deputy chief of the UAE's armed forces, "will have a one-on-one meeting" with Khan, the statement said.

The statement said that the two "held wide-ranging talks focusing on all areas of bilateral relations", adding that both the leaders expressed their determination to further strengthen the "historic and mutually beneficial relationship" between the two countries. Abu Dhabi's crown prince is in Islamabad on daylong trip to discuss bilateral, worldwide and regional issues with Pakistani leadership.

In a rare gesture, Prime Minister Imran Khan met Sheikh Mohamed bin Zayed Al-Nahyan at the Pakistan Air Force base and a formation of air force jets marked his arrival with a flyby. While thanking the crown prince for the $3 billion financial support, the prime minister said it was reflective of the UAE's "continued commitment and friendship that has remained steadfast over the years".

The financial assistance from UAE is same to the support Pakistan received from Saudi Arabia. In turn, the UAE was keen to ensure Pakistan did not cosy up to Iran, he said.

Khan during at the Kuala Lumpur International Airport last November.

The fund has financed eight development projects in Pakistan with a total value of AED 1.5 billion, including AED 931 million in grants.

Instead Mr Khan has shuttled between China, Saudi Arabia and the UAE to seek help from his country's closest allies.

Reportedly, all relevant terms and conditions have been finalised, and the UAE 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. The last of three Saudi cash payments is expected later this month.

Last month, the UAE said it will soon give Dollars 3 billion to Islamabad.

Pakistani media also suggested that the UAE was poised to build an oil storage depot at the new Chinese-built port of Gwadar, as well as a deep-conversion oil refinery joint venture.

The UAE is the country's largest trading partner in the Middle East.

Mr Khan has also been accused of a series of U-turns in dealing with the country's powerful hardline religious bloc, which successfully demanded the removal of one of his economic advisers because he was a member of the Ahmadi religious minority.

The prime minister congratulated the leadership of the UAE for declaring 2019 as the year of tolerance.

Nishikori storms past Chardy in Brisbane International semifinals
US Navy ship sails near disputed islands in South China Sea