Doha: Qatar’s Emiri Diwan confirmed that Qatar Investment Authority (QIA) aims to invest $ 3 billion in Pakistan lending support to South Asian nation’s cash-strapped economy. “Qatar Investment Authority announced its aspiration to invest $ 3 billion in various commercial and investment sectors in Islamic Republic of Pakistan,” Emiri Diwan said without giving details.

Announcement was made during a visit to Doha by Prime Minister Shehbaz Sharif, who held official talks with Qatari Ameer Sheikh Tamim bin Hamad al-Thani after meeting with QIA. “His Highness stressed importance of brotherly and strategic relations between two countries and their aspiration to enhance economic partnership by raising trade exchange and promoting investments through Qatar Investment Authority,” Emiri Diwan said. “Fund may end up investing more or less than $ 3 billion depending on asset valuations and opportunities, people said, without sharing a time frame.” Qatar’s support comes as Pakistan desperately seeks to shore up its foreign reserves and avoid default. 

Published in The Daily National Courier, August, 25 2022

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