Islamabad: Prime Minister Shehbaz Sharif announced that the United Arab Emirates has agreed to extend a $2 billion payment due from Pakistan this month, as the government explores options to reduce electricity prices.

According to Ministry of Information and Broadcasting, the Prime Minister shared this development while presiding over a federal cabinet meeting in Islamabad. He stated that the UAE President, Mohamed bin Zayed Al Nahyan, conveyed the decision during a recent meeting in Rahim Yar Khan. Discussions with the UAE President also focused on strengthening bilateral relations and investment, with the UAE expressing commitment to investing in Pakistan.

Prime Minister Sharif also announced the expected visit of the Indonesian President to Pakistan this month, highlighting the brotherly ties between the two nations. An agenda is being prepared to discuss potential exports of halal meat and rice to Indonesia.

The Prime Minister expressed satisfaction with the stability of the economy and emphasized the importance of reducing the power tariff to boost industrial and agricultural development. He indicated that two or three options are being considered to achieve this goal. Additionally, he highlighted an increase in textile exports and urged a focus on export-led growth from non-traditional sources.