Qatar will invest three billion dollars in Pakistan

Prime Minister of Pakistan with Emir of Qatar Sheikh Tamim bin Hamad Al Thani

According to the announcement of Amiri Diwan of Qatar, Qatar Investment Authority will invest three billion dollars in Pakistan. According to the news agency Reuters, Paksan is currently suffering from economic difficulties and is suffering from a balance of payments crisis. Pakistan's foreign exchange reserves have dwindled to $7.8 billion, barely enough to cover more than a month's worth of imports.

Pakistan is also facing the crisis of widening the current account deficit and devaluation of the rupee against the dollar.

According to the statement issued by Amiri Diwan, "Qatar Investment Authority has announced its intention to invest in several commercial and other sectors of Pakistan."

However, the details of the announced investment have not been disclosed.

The above statement came during the visit of the Prime Minister of Pakistan to Qatar. During the visit, Shahbaz Sharif met the Emir of Qatar Sheikh Tamim bin Hamad Al Thani on Wednesday.

According to the statement of the Amiri Diwan, the Emir of Qatar emphasized the importance of fraternal and strategic relations between the two countries and the importance of increasing investment through the Qatar Investment Authority and economic partnership through trade sectors.

The visit comes at a time when the International Monetary Fund's board is meeting next week to approve a $1 billion loan to Pakistan.

Shahbaz Sharif on Tuesday invited the Qatar Investment Authority, a sovereign wealth fund worth 450 billion dollars, to invest in Pakistan's energy and aviation sectors.

According to sources close to Prime Minister Shehbaz Sharif, he will offer Qatar stakes in state-owned enterprises, including loss-making PIA and New York's Roosevelt Hotel.