Qatar Investment $3 billion in Pakistan. Dubai Qatar is making $3 billion Qatari Riyals worth of new investments in Pakistan, in the form of deposits and direct investments, the Qatari state news agency said on Monday.
Following this investment, the economic partnership between Qatar and Pakistan will reach $9 billion, the agency reported, quoting Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman al-Thani.
He added that after the announcement of this new investment package the size of the Qatari-Pakistani economic partnership will amount to $9 billion.
Upon the directives of HH the Amir, the Deputy Prime Minister and Minister of Foreign Affairs announces of new investments in the form of deposits and direct investments worth a total of QR3 billion in the Islamic Republic of Pakistan. pic.twitter.com/zmH07cFRew
— Qatar News Agency (@QNAEnglish) June 24, 2019
Saudi Arabia had earlier provided Pakistan a $3 billion loan and a similar amount every year in oil supply on deferred payments. Another Gulf state, the United Arab Emirates had also announced a $3 billion loan package for the country.
Pakistan recently reached an agreement in principle with the International Monetary Fund for $6 billion bailout package for three years, aimed at shoring up its public finances and strengthening a slowing economy.
The announcement of Qatari investment came after Pakistan visit of Qatar’s emir Sheikh Tamim bin Hammad al-Thani. During the visit, Pakistan and Qatar signed several memoranda of understanding for trade and investment, tourism and cooperation in other fields.
Prime Minister Imran Khan’s government is seeking to stabilize its economy with loans from international donors and Gulf countries.
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