Qatar to Invest $9billion in Pakistan – Research Snipers

Qatar to Invest $9billion in Pakistan

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Qatar would be investing $9 billion in Pakistan in the form of direct investments and deposits for boosting the forex reserves of Pakistan.

The announcement was made by the Qatar and Pakistan officials yesterday, but there was some confusion regarding the volume of the first instalment of aid.

The Pakistani officials and most of the national and international media outlets have placed an amount of $3 billion, the official Qatar news agency cited the volume of assistance to be 3 billion Qatar riyals, which is even less than $1 billion.

As per a tweet by the Qatari news agency, on the instructions of the HH the Amir of Qatar, the Minister of Foreign Affairs and the Deputy Prime Minister have announced of new investments in the form of deposits and direct investments costing a total of QR3 billion in the Islamic Republic of Pakistan.

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A later tweet by the same agency said that the Qatari-Pakistani economic partnership would amount to $9 billion. Qatar has given affirmation to its aspiration for developing the relations between the two nations at all the economic, cultural, sports and political levels.

The Gulf country is the 4th nation that has come forward for rescuing Pakistan from default during the past 11 months as the PM Imran Khan managed government tried to handle the over surging balance of payment crisis.

Previously, China gave $4.6 billion in the form of deposits and commercial loans and the Kingdom approved $3 billion cash deposit and $3.2 billion oil facility on the deferred payments. The UAE gave $2 billion cash deposit.

The economic partnership of Qatar-Pakistan would amount to$9 billion. Qatar has given an affirmation for further boosting the ties between the 2 nations at all the political, sports, cultural and economic levels, the Foreign Minister of Qatar was cited as saying.

Pakistan would also be getting $1.5 billion in trade finance from the Jeddah-based financing arm of the Islamic Development Bank, the International Islamic Trade Finance Corporation.

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