ISLAMABAD: Pakistani and United Arab Emirates (UAE) officials have agreed to expand bilateral cooperation between the two countries in the railways sector, the Pakistani railway ministry said on Monday.
The statement came after Railways Minister Hanif Abbasi’s meeting with UAE First Secretary to Pakistan Ahmed Al-Tahiri, at which both officials discussed strengthening bilateral relations across all sectors.
Abbasi highlighted that Pakistan Railways is continuously working to improve its services through long-term agreements with domestic and international suppliers, emphasizing that Pakistan offers a business-friendly environment and presents significant opportunities for investors.
“Both sides deliberated on various aspects of railway operations and mutual trade interests,” the Pakistani railways ministry said in a statement. “Both leaders agreed to continue and expand bilateral cooperation in the railway sector and other economic domains.”
Pakistan Railways faces many challenges like aging infrastructure, outdated tracks, locomotives and signal systems. Poor maintenance and a lack of modern safety measures often contribute to train derailments and accidents. Notable tragedies include the 2005 Ghotki train disaster, which killed over 130 people and the 2021 collision that left at least 65 people dead.
The UAE is Pakistan’s third-largest trading partner after China and the United States, and a major source of foreign investment valued at over $10 billion in the last 20 years, according to the UAE’s foreign ministry. Both countries have stepped up efforts in recent years to strengthen their economic relations. In Jan. 2024, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure.
During Monday’s meeting, the UAE first secretary emphasized the deep-rooted ties of brotherhood and mutual respect between the two nations, according to the Pakistani railway ministry.
“He reaffirmed the UAE’s commitment to further enhancing bilateral cooperation,” the ministry said.

KARACHI: Pakistan’s stocks rallied on Monday and rose 0.6 percent to the highest close in more than two months as the International Monetary Fund (IMF) gave some positive signals about its ongoing review of the South Asian country’s $7 billion loan program.
The benchmark KSE-100 index gained more than 1,000 points in the day trade before closing the week’s first session at 116,199.59 points, according to stock analysts.
Sana Tawfik, head of research at Arif Habib Ltd, said the stock market could reach 123,000 points by June if Pakistan sails through the first review of the IMF program.
“This is the highest since January 6,” Tawfik said, citing two main reasons for Monday’s bullish run.
“One is the IMF that issued a statement saying significant progress has been made [in talks with Pakistan] toward reaching the staff-level agreement. [Secondly], the overall sentiment is positive.”
The Washington-based lender put all speculation about its negotiations with Islamabad to an end, when its mission chief, Nathan Porter, said last week the two sides had made “significant progress” toward reaching an accord.
“The mission and the authorities will continue policy discussions virtually to finalize these discussions over the coming days,” Porter said on March 15.
The IMF team stayed in Pakistan for more than two weeks and reviewed the country’s economic reforms under its Extended Fund Facility as well as a fresh loan of about $1.5 billion to increase its climate resilience and sustainability.
“The IMF described the progress of the $7 billion loan program as ‘strong’ despite the absence of a staff-level agreement,” said Naveed Nadeem, a senior equity trader at Topline Securities Ltd., in a note to clients.
Monday’s rally was driven by Mari Energies, Pakistan State Oil, Oil & Gas Development Company Ltd. Lucky Cement and Searle Pakistan that collectively added 658 points to the benchmark index at the Pakistan Stock Exchange.
The equity market also gained some strength from reports of the government’s plan to resolve the longstanding issue of power sector debt, or the circular debt, according to analysts.
“This performance was influenced by the government’s initiatives to tackle Pakistan’s power sector debt,” Nadeem added.