Qatar-based companies interested in modernizing airports in Pakistan

The two-way trade exchange between Pakistan and Qatar reached QR9.5bn in 2018, showing an increase of 63%.

0

As per a senior adviser to Prime Minister Imran Khan, numerous Qatar-based companies have shown interest in making investments in many promising sectors of Pakistan’s economy.
Their investments include obtaining equity stakes in the country’s airports and power plants.

The Pakistani government has decided to privatize up to 30% equity stakes of numerous important airports in the country, including Islamabad, Lahore, and Karachi. The aim of this decision is to upgrade the country’s infrastructure and generate resources for developmental activities.

“As we are privatizing a lot of our assets, we have had meetings with the top officials of several prominent Qatari companies, including Sheikh Nawaf bin Nasser Al Thani (Chairman of Nasser Bin Khaled (NBK) Holding, and top officials of Qatar Investment Authority, in this regard. We are looking at our airports selling equity of it,” – said H E Syed Zulfiqar Abbas Bukhari, Minister of State, Special Assistant to the Prime Minister on Overseas Pakistanis & HRD.

Minister Bukhari, who also led a trade delegation, further added:
“We are working for a JV venture with The Roosevelt Hotel in New York. We are also looking to develop and enhance our tourism and hospitality sector with the Icon group coming to Pakistan and opening hotels and resorts’’

“We have just privatized two of our energy terminals (including gas-fired power plants) and Qatar’s Nebras Power is probably bidding for it. In addition, there are a lot of projects in the pipeline that we are working to implement together with Qatar.” – He continued

The two-way trade exchange between Pakistan and Qatar reached QR9.5bn in 2018, showing an increase of 63%.

The balance of trade is in favor of Qatar at the moment due to its export of products to Pakistan. However, the country is working to enhance collaboration in the field of manpower and aiming to increase the flow of remittances that will make economic relations balanced.

At the moment, there are 150,000 Pakistanis living and working in Qatar, remitting $400 million annually (2018) to provide to the Pakistani economy.

“We are coming up with several remittance models which are going to be sharia-compliant. We are also coming up with various Islamic products such as financing cars, houses, and other credit benefits, especially for the overseas Pakistanis” – said the minister.

On collaboration with regard to the 2022 FIFA World Cup, talks are going on with the top officials of Qatar’s Supreme Committee for Delivery & Legacy (SC), soon both sides will reach an agreement to establish, cooperation, providing security personnel, fast speed drivers, traffic management staff and footballs for the prestige event.

What are your views on this? Share with us in the comments bar below.

 

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept

>