Qatar aims to invest $3 billion in Pakistan

PM, Qatari Emir agree to bolster bilateral ties

DOHA:

The Qatar Investment Authority aims to invest $3 billion in Pakistan, Qatar’s Emiri Diwan said on Wednesday, lending support to the country’s economy.

“The Qatar Investment Authority announced its aspiration to invest $3 billion in various commercial and investment sectors in the Islamic Republic of Pakistan,” the Emiri Diwan said, without giving details.

The Emiri Diwan is the sovereign body and the administrative office of the Emir of Qatar.

The announcement was made during a visit to Doha by Prime Minister Shehbaz Sharif, who held official talks with Qatari Emir Sheikh Tamim bin Hamad al-Thani on Wednesday after a meeting with the QIA on Tuesday.

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“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,” Emiri Diwan said.

Sources close to the prime minister have said he was expected to offer Qatar shares in state-owned enterprises including the Pakistan International Airlines and the Roosevelt Hotel in New York.

The prime minister met Amir of State of Qatar Sheikh Tamim bin Hamad Al Thani wherein both the leaders discussed bilateral ties and ways to further strengthen the cooperation between Pakistan and Qatar.

During the meeting held at Diwan-e-Amiri, both the countries agreed to promote bilateral cooperation in multiple areas.

The prime minister was accompanied by his delegation including the cabinet members.

Earlier, as the prime minister arrived at Diwan, he was warmly welcomed by the Amir at the main entrance.

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Later, the Amiri guards also presented a guard of honor to the prime minister before proceeding to hold the meeting and the delegation-level talks.

Agencies