Pakistan Receives $500million from Qatar – Research Snipers

Pakistan Receives $500million from Qatar

Qatar

On Saturday, Pakistan received the first tranche of $500million from Qatar under the $3billion package comprising of a foreign currency deposit and direct investment.

Abid Qamar—the chief spokesman of the State Bank of Pakistan told local media that a deposit of $500million had been received from the Middle Eastern country.

Qatar announced the package one day following its ruler Emir Sheikh Tamim bin Hamad Al Thani’s 2-day visit to the federal capital last week.

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Qatar is the 4th country which suggested a support package to Pakistan making bilateral loans from all these friendly nations during the present financial year to more than $12.7billion before Pakistan officially entered an International Monetary Fund programme for $6billion financing next month.

Saudi Arabia, the United Arab Emirates and China have given nearly $9.7billion in loans and cash deposits to the capital city since the government of Pakistan Tehreek-e-Insaf took charge in August last year.

But, it is not clear how much of the bailout from Qatar would be including cash deposit and how much would be in the form of investment.

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