PM’s aide thanks Qatari Emir for $3 billion investments, deposits

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ISLAMABAD: Adviser to Prime Minister Imran Khan on Finance Dr Abdul Hafeez Shaikh expressed his gratitude to Qatari Emir Sheikh Tamim Bin Bamad Al Thani for announcing US3 billion in despoists and direct investments for Pakistan.

Taking to Twitter after the culmination of two-day visit to the Qatari ruler, Shaikh wrote: “Want to thank the Emir of Qatar HRH Sheikh Tamim Bin Hamad Al Thani for announcing US $3 Billion in #deposits and direct #investments for #Pakistan and for #Qatar’s affirmation to further develop relations between the two countries.”

His tweet came after Qatar announced that it was making $3 billion Qatari worth of new investments in Pakistan, in the form of deposits and direct investments, the Qatari state news agency QNA said on Monday.

Following this investment, the economic partnership between Qatar and Pakistan will reach $9 billion, the agency reported, quoting Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman al-Thani.

Last month, Pakistan reached an accord in principle with the International Monetary Fund for a three-year, $6 billion bailout package aimed at shoring up its fragile public finances and strengthening a slowing economy.

The Qatari announcement came after a visit by Qatar’s emir to Pakistan. During the visit, Pakistan and Qatar signed several memoranda of understanding for trade and investment, tourism and business and for cooperation in financial intelligence, according to the Pakistani government’s Twitter account.

Pakistani Prime Minister Imran Khan’s government is seeking to stabilise its economy with loans from Gulf countries and international donors.