Qatar showed no interest in giving $2 billion in cash to Pakistan

 Qatar showed no interest in giving $2 billion in cash to Pakistan

Qatar showed no interest in giving $2 billion in cash to Pakistan

Doha once again expressed its desire to buy 2 LNG-fired power plants.

ISLAMABAD: Qatar has once again expressed its interest in buying two LNG-powered power plants while not offering $2 billion in cash to Pakistan. The Express Tribune reported that Qatar did not immediately offer $2 billion in cash to Pakistan, but renewed its interest in buying two LNG-fired power plants, which Islamabad initially planned to build. was reluctant to sell without a competitive bidding process.

A member of the Prime Minister's delegation said that Qatar has again shown interest in investing in the LNG-powered Haveli Bahadur Shah and Baloki power plants. Pakistan did not offer the power plants but the Qatari government showed interest. The sale of Roosevelt Hotel, New York, and Pakistan International Airlines (PIA) were not discussed, but Qatar offered to invest in Islamabad International Airport and Karachi's Jinnah International Airport.

The government official said that the investment of $3 billion by Qatar will depend on how quickly the issues are being resolved. Keeping this in mind, Prime Minister Shehbaz Sharif directed that a monitoring and implementation cell be established to implement the investment. It is reported that Qatar plans to invest $3 billion in airports, power plants, port terminals, solar energy, and the stock market through its $425 billion sovereign wealth fund, but an aide to the prime minister said that the Qatar Investment Authority was not looking to invest in the oil and gas sector but was more interested in diversifying its investments.

After Prime Minister Shehbaz Sharif's three-day visit, another government official said Doha was more interested in investing in various sectors than offering cash to bail out Islamabad immediately. When contacted in this regard, Finance Minister Miftah Ismail commented that there is no difference in funding after Qatar's commitment of $3 billion in investment, so $2 billion will be provided immediately. No cash dollar is required.

It is understood that Qatar's no-cash-but-investment policy is in line with the policies adopted by Saudi Arabia and the United Arab Emirates towards Pakistan this time around, breaking with the past tradition of signing large loan cheques. which Islamabad never returned. After a similar announcement by the United Arab Emirates, the King of Saudi Arabia also directed to invest of one billion dollars in Pakistan on Thursday. would require a strong commitment from the Government of Pakistan, which would also keep it on track to follow the IMF-recommended approach.