Qatar announces $3 billion investment in Pakistan

Qatar has indicated its willingness to invest $3 billion in Pakistan in different sectors.

The money will be invested through the Qatar Investment Authority (QIA), according to a statement issued by Qatar’s Emiri Diwan, which is the administrative office of the Emir of Qatar.

The announcement, reported by local media as well as international news agencies, came as Prime Minister Shehbaz Sharif visited the country. Sharif, on Wednesday, called on Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani, and his parents Sheikh Hamad bin Khalifa Al Thani and Sheikha Moza bint Nasser.

A day earlier, he had held talks with the head of QIA.

Officials in Islamabad also confirmed that Qatar is ready to invest $3 billion in Pakistan. Later, Prime Minister Shehbaz Sharif tweeted about the development.

“Held a very productive meeting with HH Sheikh Tamim bin Hamad Al-Thani, Emir of Qatar. We have decided to take our excellent bilateral relations to the next level of strategic engagement. Grateful to HH Emir for Qatar’s investment of $3 billion in various sectors of our economy,” the prime minister said.

Qatar is interested in investing in Karachi and Islamabad airports, the officials told SAMAA TV’s Shakeel Ahmed.

The QIA will ensure that investment is made as soon as possible to support cash-strapped Pakistan, they said.

Last week, reports in Pakistani and international media claimed that Qatar will invest in the civil aviation and LNG sectors.

PM Shehhbaz calls on parents of Qatar Emir

Meanwhile, Prime Minister Shahbaz Sharif on the secod day of his visit to Qatar, called on the parents of Emir of Qatar.

The PM conveyed gratitude to Sheikh Hamad bin Khalifa Al Thani for receiving him and his delegation.

He conveyed his profound regards to His Highness and underscored the importance Pakistan attached to its longstanding and cordial relationship with Qatar, which is based on firm foundations of mutual trust and abiding support, a statement issued on Wednesday said.

Recalling the earlier visits of Father Emir to Pakistan in 1999 and 2017, the Prime Minister appreciated the role played by His Highness in elevating the relationship between the two countries and acknowledged the robust relationship developed during His Highness’ reign.

Recalling the “Education Above All (EAA)” program under the patronage of Her Highness Sheikha Moza bint Nasser, the Prime Minister lauded her humanitarian and charitable efforts, in particular enrolment of out-of-school children around the world including Pakistan.

The Prime Minister thanked His Highness the Father Amir for hosting more than 200,000 strong Pakistani diaspora in Qatar, which is contributing to the progress of the State of Qatar, as well as Pakistan. He assured His Highness of further cooperation with Qatar in line with Qatar’s Vision 2030.

The Prime Minister also conveyed his warmest felicitations and best wishes on Qatar’s hosting of the upcoming FIFA-2022 World Cup.

The Prime Minister also extended a cordial invitation to Their Highnesses to visit Pakistan at their earliest convenience.