UAE to Acquire Fauji Foundation Shares to Settle $1 Billion Liability, Says Ishaq Dar

Deputy Prime Minister Ishaq Dar announced that the United Arab Emirates will acquire a stake in the Fauji Foundation Group, assisting Pakistan in settling a $1 billion liability. During a press briefing in Islamabad, he explained that the UAE had previously extended $3 billion to Pakistan, and instead of rolling over $1 billion, the matter is being addressed through equity acquisition.

Dar expressed confidence that the transaction would be completed by March 31. He also noted that discussions are ongoing regarding the rollover of an additional $2 billion from January, with the expectation that the UAE will invest this amount in Pakistan’s economy.