Qatar is making the next stop to invest $3 Billion worth of investments in Pakistan, through deposits and direct investments, Qatar News Agency announced it on Monday. Dr. Firdous Ashiq Awan, who is Adviser to the Prime Minister on Information also said on Monday.
After these investments, the economic partnership between Pakistan and Qatar will reach at $9 Billion, according to the Agency, as quoted by the Qatari Foreign Minister, Sheikh Mohammed bin Abdulrahman Al-Thani.
There has been some possible loans and investments for Pakistan, recalling the IMF $6 Billion Bail-out package, to overcome the country’s finances and give an uplift to the damaging economy, $3.6 Billion from Asian Development Bank, three agreements of $918 Million with the World Bank, and many more.
Just this weekend, Qatari Emir visited Pakistan on a two-day official visit, in which the Pakistan and Qatar announced several Memorandum of Understanding MoU of trades and investments, business and tourism, and for the cooperation in the financial intelligence departments as well.
However, earlier Saudi Arabia has provided Pakistan with $3 Billion, and almost the amount similar to this every year on Oil supply because of the deferred payments. On the topic, United Arab Emirates also announced a $3 Billion Loan Package for Pakistan to ease them up from the economic distress the incumbent Government has been facing.
Adviser to the Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Sheikh, applauded the Qatari Emir with thankfulness for “Qatar’s affirmation to further develop relations between the two countries”.
In his tweet on his Official Twitter account, Sheikh said, “Emir of Qatar HRH Sheikh Tamim Bin Hamad Al Thani for announcing [the] US $3 Billion in #deposits and direct #investments for #Pakistan and for #Qatar’s affirmation to further develop relations between the two countries”.
In the upcoming events, both the countries are looking forward to expand their collaboration in food and industry, trade and investment, business and tourism, LNG and PNG fields. Pakistan is now additionally helping the Qatari state to promote and expand their investments in energy, tourism and hospitality, and in aviation and defense industries.