The Qatar Funding Authority (QIA) goals to take a position $three billion in Pakistan, Qatar’s Emiri Diwan stated on Wednesday, lending help to the cash-strapped financial system.
“The Qatar Investment Authority announced its aspiration to invest $3bn in various commercial and investment sectors in the Islamic Republic of Pakistan,” the Emiri Diwan stated, with out giving particulars.
The announcement was made throughout a go to to Doha by Prime Minister Shehbaz Sharif, who held official talks with Qatari Emir Sheikh Tamim bin Hamad al-Thani on Wednesday after a gathering with the QIA on Tuesday.
“His Highness stressed the importance of the brotherly and strategic relations between the two countries and their aspiration to enhance economic partnership by raising trade exchange and promoting investments through the Qatar Investment Authority,” the Emiri Diwan stated.
The prime minister’s go to to Qatar precedes an International Monetary Fund assembly subsequent week that’s anticipated to approve greater than $1bn in financing that has been stalled because the starting of the yr.
PM Shehbaz on Tuesday invited QIA, Qatar’s $450bn sovereign wealth fund, to spend money on Pakistan’s power and aviation sectors.
He had beforehand stated he would spotlight sectors together with renewable power, meals safety, industrial and infrastructure improvement, tourism and hospitality.