Qatar Reveal Further $3bn Investment In Pakistan

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Qatar is to make a further investment of $3 billion in Pakistan, it was revealed on Monday morning.

Doha’s cash injection brings the Gulf state’s total Pakistani investment to $9 billion.

“Want to thank the Emir of Qatar HRH Sheikh Tamim Bin Hamad Al Thani for announcing US $3 Billion in #deposits and direct #investments for #Pakistan and for #Qatar’s affirmation to further develop relations between the two countries,” Abdul Hafeez Shaikh, the Pakistani prime minister’s finance adviser, posted on Twitter.

The funding follows the Qatari emir’s visit to Pakistan, and comes as an endorsement of Prime Minister Imran Khan’s adminstration, said Doha’s Ministry of Foreign Affairs.

“People in Pakistan are struggling to afford the basics, as inflation reaches its highest level in five years,” said Al Jazeera’s Osama Bin Javaid, reporting from Islamabad.

Pakistan has signed agreements with nations from China to Saudi Arabia, but still needed a $6 billion bailout package provided by the International Monetary Fund. The loan comes with conditions, such as restricting public spending.

The recent visit of top-level Qatari diplomats and leaders to Islamabad saw deals reached for cooperation in aviation, maritime affairs, higher education, and defence and defence production, Pakistan’s GeoTV reported.

The post Qatar Reveal Further $3bn Investment In Pakistan appeared first on Independent Newspapers Nigeria.

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