ISLAMABAD: Finance Minister Miftah Ismail clarified that federal government has no intention of selling shares of Roosevelt Hotel New York and Pakistan International Airlines (PIA) to Qatar.

Reports suggested that Pakistan was mulling selling shares of both state assets to acquire loans from Gulf State. “Coincidentally, we did not speak about Roosevelt Hotel during our meetings,” finance minister said, shedding light on Prime Minister Shehbaz Sharif’s two-day visit to Qatar.

During prime minister’s visit, Qatar’s Emiri Diwan confirmed that Qatar Investment Authority (QIA) aims to invest $ 3 billion in Pakistan.

In press conference, Miftah confirmed that gas-rich state has plans of investing in a long-term lease of Pakistan’s airports and management control, not buying them.

He shared that Qatar has plans to construct terminal on Pakistan’s seaports or invest in country’s LNG plants or put their money in large-scale power plants.

“Finally, if all these things do not work out and they also intent on helping Pakistan, then country will invest in Pakistan’s stock market,” Miftah said.

He said that Qatar has pledged to invest $ 5 billion in Pakistan, while Saudi Arabia and United Arab Emirates have also affirmed investing in country helping Islamabad overcome financing gap of $ 4 billion.

He said that Pakistan has fulfilled all requirements of IMF and that country will receive next tranche after its board meeting on Monday.

He also clarified that those who have not yet paid electricity bills will be issued with correct ones without fuel price adjustment. He said that for those who already have paid bills, adjustment will be made in their September bills.

Published in The Daily National Courier, August, 27 2022

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