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UAE is all set to establish refinery in
Pakistan and to further accelerate economic interaction by targeting upcoming
investment and privatisation opportunities.
Mr. Ali Mohammed Al Shamsi Ambassador of UAE to Pakistan stated during a
meeting with Syed Naveed Qamar Federal Minister for Privatisation, Investment,
Ports, Shipping, Industries & Production here today.
The UAE Envoy assured full support of UAE government to further promote the
private sector and UAE government investment in Pakistan in the fields of
energy, petrochemical and real estate sectors.
In order to encourage farmers, UAE was planning to establish an agriculture
bank to improve quality control of rice, wheat, vegetables and other agri
products through financing, he added.
Syed Naveed Qamar said that Pakistan provided tremendous investment
opportunities to all investors in every sector of economy with liberal
investment policy and unmatchable incentives in the region with a level
playing field.
He informed the envoy that the government was planning to sell a specific
quantity of shares of Habib Bank Limited (HBL) to the institutions through
block sale while Expressions of Interest have been invited for privatisation
of SME Bank. We were in the process of prioritizing our Privatisation Program,
which would be announced soon, he stated.