Qatar Investment Authority (QIA) plans invest 3 billion dollars in Pakistan, said Emiri Diwan from Qatar. on Wednesday, credit support to cashfastened economy.
Pakistan in economic shocks and balance sheet of payment crisis, with foreign exchange reserves fell to $ 7.8 billion, which was barely enough for more than in a month of import. Country also struggle with extension current account deficit, depreciation of rupee against United States dollar and inflation, which hit more than 24 percent in July.
“Qatar Investment Authority announced desire to invest $3 billion. in various commercial and investment sectors in Islamic Republic of Pakistan,” Emiri Divan said, without going into details.
announcement was made during a visit to Doha by Prime Minister Shehbaz Sharif, who held official negotiation with Emir of Qatar Sheikh Tamim bin Hamad al-Thani on Wednesday after meeting with QIA on Tuesday.
“His Highness stressed the importance of fraternal and strategic relationship between the two countries and their desire to strengthen economic partnerships by increasing trade exchange and promotion of investments through the Qatar Investment Authority,” said Emiri Divan.
prime ministerVisit to Qatar ahead of International Monetary Fund meeting next week expected to approve more more than 1 billion dollars in funding that was suspended from the start of in year.
Prime Minister Shehbaz on Tuesday invited QIA, Qatar’s $450 billion sovereign wealth fund, to invest in Energy and Aviation Sectors of Pakistan.
He previously said he would single out sectors such as renewable energy, food security, industry and infrastructure. developmenttourism and hospitality.
Sources close to the prime minister say he should have offered Qatar shares in state-owned enterprises, including loss-making Pakistan International Airlines and the Roosevelt Hotel. in New York.
