Pakistan’s Finance Minister and Deputy Prime Minister, Ishaq Dar, held a meeting with Khalifa Al Shamsi, the Chief Executive of the UAE’s Etisalat Group, in Dubai on February 11, 2025. During the meeting, discussions were centered around inviting the company to further invest in Pakistan’s telecommunications sector. It was revealed that PTCL’s management is in collaboration with Etisalat, which holds a 26% stake, while the Pakistani government holds 62% shares, and the remaining 12% shares are publicly traded on the Pakistan Stock Exchange. A statement from the Finance Minister’s office mentioned that Dar met with Khalifa Al Shamsi and the Chief Operations Officer, Khalid Higazi, along with other Pakistani officials.
Dar highlighted Pakistan’s investment-friendly environment to Etisalat, urging them to increase their investments in the country’s telecommunications sector. Al Shamsi acknowledged Pakistan’s growing importance in the region and praised the country’s efforts in creating a business-friendly environment. Dar is currently part of Prime Minister Shahbaz Sharif’s delegation, which is on a two-day visit to the UAE, participating in the World Government Summit in Dubai. According to a statement issued by the Foreign Ministry, this is the Prime Minister’s second visit to the UAE since assuming office in March 2024.
Last month, the UAE had expressed interest in cooperation in the mining and agriculture sectors with Pakistan. This was discussed during a meeting between Prime Minister Shahbaz Sharif and UAE President Sheikh Mohamed bin Zayed Al Nahyan on January 5. The close diplomatic, economic, and cultural ties between Pakistan and the UAE are based on historical relations, with a large number of Pakistani expatriates residing in the UAE. The UAE is a major trading partner of Pakistan and a significant source of remittances, with thousands of Pakistanis working in various sectors. Both countries are also collaborating in defense, energy, and investment projects, with the UAE providing financial assistance and humanitarian aid to Pakistan.
