Qatar it seems has also taken the decision of becoming a part of the CPEC—China Pakistan Economic Corridor.
As per the Express-News, Qatar wishes to make an investment in Gwadar, which is the significant route of CPEC. The Gulf state has shown interest to make investment in the Frozen Food sector.
By making this investment, Qatar would not just be meeting its intrastate needs however would also be playing an active role in the progress and development of the region.
According to the reports, the Gulf state would also be working closely with the National Engineering Services Pakistan (NESPAK). Additionally, it would be collaborating with Engro Polymer & Chemicals Ltd. for the installation of the polythene and polymer plants.
Qatar is targeting to play an active and leading role in the region. With this investment it would be like a step towards its aim. Besides, this the investment would further be strengthening the ties between the two nations.
This is not just one agreement that has been suggested recently. As per the reports of local media, Pakistan is also looking for a liquefied natural gas (LNG) credit facility from Qatar and also requires a revision in the already agreed gas prices from the Gulf country for cushioning its balance of payments.
The annual LNG import bill of Pakistan is nearly $4billion. The country is in search for securing a credit facility for a year.
It has been informed by the Petroleum Minister—Ghulam Sarwar Khan that Pakistan would continue the former long-term LNG supply deal with Qatar.