Prime Minister Shehbaz Sharif on Thursday met Bangladesh's Chief Adviser Professor Muhammad Yunus, reaffirming Pakistan's commitment to building constructive, forward-looking ties with Dhaka based on mutual respect, trust, and shared aspirations for regional peace and prosperity.
In the "warm and cordial" meeting, held on the sidelines of the 80th UNGA session, the two leaders reviewed the state of bilateral relations and explored ways to strengthen cooperation in trade, regional connectivity, and people-to-people exchanges.
Professor Yunus appreciated Pakistan's initiative to deepen engagement and underlined the importance of boosting bilateral trade and cultural linkages.
Circular debt
Prime Minister Shehbaz Sharif inaugurated Pakistan's first-ever comprehensive energy circular debt elimination plan, describing it as a "historic breakthrough" that will pave the way for sustainable reforms in the power sector.
Speaking at the signing ceremony, the prime minister lauded the collective efforts of the government, financial institutions, and the task force for successfully negotiating and finalizing the plan.
Sharif joined the ceremony via video link from New York, while ministers, senior officials, regulators, international partners, and CEOs of power sector organizations attended the event at the Prime Minister's House in Islamabad.
"This is the first time in Pakistan's history that circular debt, which was swallowing our national resources, has been addressed in a structured and effective manner," the prime minister said.
Loans are not solution
Prime Minister Shehbaz Sharif has called upon the international community to honour its commitment on climate finance, stressing that debt-driven finance cannot address the climate catastrophe confronting vulnerable nations like Pakistan.
"Loans over loans, adding to loans is not a solution," the prime minister said while speaking at the Special Climate Event convened by UN Secretary-General António Guterres along with the President of Brazil (COP-30 Host) for Member States to present new NDCs with 2035 targets.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ