ISLAMABAD: Pakistan and the United Arab Emirates (UAE) have inked a landmark agreement under the Government-to-Government (G2G) framework for the privatisation of First Women Bank Limited (FWBL), marking a new chapter in bilateral economic cooperation.
The signing ceremony, held in Islamabad, was attended by Prime Minister Shehbaz Sharif and Chief of Army Staff (COAS) Field Marshal Syed Asim Munir. The deal aims to strengthen Pakistan’s financial sector, enhance transparency, and attract new investment opportunities.
Speaking at the ceremony, Prime Minister Shehbaz Sharif said that the privatization of First Women Bank would boost economic stability, promote competition, and improve efficiency in the banking sector.
He emphasised that Pakistan’s economic ties with the UAE were now stronger than ever, adding that both countries were committed to joint ventures that serve mutual interests and promote long-term cooperation.
The prime minister warmly welcomed Sheikh Zayed bin Hamdan to Pakistan and extended good wishes for the late Sheikh Zayed Al Nahyan, calling him a true and sincere friend of Pakistan who always thought of its well-being.
Shehbaz Sharif noted that Sheikh Muhammed Zayed bin Hamdan is keen on expanding trade and investment partnerships with Pakistan.
“This G2G framework deal marks the beginning of a new journey of prosperity and growth between the two brotherly nations,” he said.
He added that more projects under the same framework would kick off in the coming days, as the government focuses on institutional reforms and private sector empowerment.
“The government’s job is not to do business but to create an enabling environment for business to flourish,” he remarked.
