Nasser Abdulla Lootah Group’s plans to establish a university and a power plant in Karachi, Pakistan. Discover the strong ties and similarities between UAE and Pakistan, and the government’s commitment to supporting investors.
The Nasser Abdulla Lootah Group, based in the UAE, will set up a university in Karachi, Pakistan’s largest city. The announcement came during a meeting between the group’s Vice Chairman, Abdullah Nasser Lootah, and Governor Sindh Kamran Tessori at the Governor House.
The two discussed mutual trade and investment opportunities in sectors like health, education, and energy. The favorable investment climate in Sindh, with its ease of doing business policy, was emphasized by Tessori. The group also aims to install a power plant in Karachi, a major economic hub in the country. Tessori assured the UAE delegation that the government will provide support to investors.
Moreover, United Arab Emirates is highly developed, especially in the Middle East. Pakistan and UAE have a long history of strong relations & share close ties based on similar beliefs, cultural similarities, shared history, and similar perspectives on regional and global issues.
The UAE is home to around 1.7 million Pakistanis who have made a significant impact on the UAE’s success over the past five decades. They have contributed to the growth, prosperity, and economic development of both countries.
During a recent meeting with Prime Minister Shehbaz Sharif, UAE President Sheikh Mohamed Bin Zayed Al Nahyan hinted at plans to increase investment in Pakistan, which is in dire need of foreign funding to support its struggling economy.
In a show of support, on January 12th, the UAE agreed to provide a $1 billion loan and extend an existing $2 billion loan to Pakistan. This financial aid offers relief to the country, still recovering from nationwide floods that caused over $30 billion in damage.
