Emirati firm to ‘build’ university in Karachi

Karachi: United Arab Emirates (United Arab Emirates) company intends to build a university in Karachi, the country’s largest city with millions of people.

The progress was made during a meeting between Sindh Governor Kamran Tessori and Nasser Abdulla Lootah Group Vice Chairman Abdullah Nasser Lootah at the Governor’s Palace in Karachi, according to a statement.

The statement from the Governor’s Office mentioned that the two sides discussed the promotion of mutual cooperation in trade, health investment opportunities, education and other issues.

Talking to the delegation, the governor of Sindh province said there are favorable investment opportunities in the southwestern province, which has the second largest population in the country.

The governor of Sindh said that investment in the health, education and energy sectors in Karachi, the country’s economic hub, will enjoy incentives if it is easy to do business.

The governor also assured the businessman that all possible help and support will be provided to the investor.

“Abdullah Nasser Ruta said his company intends to install a power plant in Karachi and is also considering establishing a university,” the statement added.

Pakistan and the UAE enjoy a close and brotherly relationship based on shared beliefs and traditions, common history and heritage, deep-rooted cultural affinities, geographical proximity and shared views on multiple regional and global issues.

Regular high-level exchanges and visits are important features of this relationship.

The UAE is home to around 1.7 million Pakistanis who have played a pivotal role in the UAE’s success story over the past five years, contributing to the progress, prosperity and economic development of the two brotherly countries.

During a recent meeting with UAE President Prime Minister Sheikh Baz Sharif Sheikh Mohamed bin Zayed Al Nahyan Clues have also been shed on his government’s plans to expand its investment footprint in Pakistan – as the country desperately needs foreign inflows to shore up its deteriorating economy.

On Jan. 12, the UAE agreed to provide Pakistan with a $1 billion loan and roll over an existing $2 billion loan, providing some respite for the country, which is still reeling from devastating floods across the country. Losses exceeded $30 billion.