Qatar Investment Authority plans to invest in Pakistan, taking the overall aid to $3 billion

In a statement posted on the website, the Qatari ruler's office confirmed the plan to invest in Pakistan.

Qatar Investment Authority plans to invest in Pakistan, taking the overall aid to $3 billion

The sovereign wealth fund of Qatar has planned to invest $3 billion in Pakistan’s key sectors to aid the economy. The gas-rich Gulf state has extended its support to Pakistan in a time of need.

The Qatar Investment Authority, which is worth roughly $450 billion, is also evaluating strategic investments in Pakistan’s main airports of Islamabad and Karachi, along with power, hospitality, and sectors of renewable energy.

These investments could also overlap with the initial $2 billion bilateral support Qatar has already planned for Pakistan. This could lead to the Gulf state investing as much as $3 billion, depending on the opportunities and asset valuations. However, there is no set time frame for the job.

In a statement posted on the website, the Qatari ruler’s office confirmed the plan to invest in Pakistan. This decision came after a meeting between Sheikh Tamim Bin Hamad Al Thani and PM Shehbaz Sharif.

Qatar investment in Pakistan

In order to ease Pakistan’s current financial crunch, Qatar is lending its help in the matter. PM Sharif has also paid visits to the country ahead of an important IMF board meeting.

Arab nations have promised to support the country only if it is able to secure finances from the International Monetary Fund (IMF). Following Qatar’s interest in the hospitality sector, shares of state-run PIA (Pakistan International Airlines) rose 10%.

Pakistan is also set to get $1 billion from Saudi Arabia and a similar amount of investment from the United Arab Emirates. When gulf nations provide aid, they do so in a mix of investment pledges and deposits.

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