The Qatar Investment Authority (QIA) is considering investment of $3 billion in Pakistan, Qatar’s Emiri Diwan stated on Wednesday.
In a statement, the Emiri Diwan said that the QIA had announced its aspiration for investment of $3 billion in different commercial and investment sectors in Pakistan.
The announcement was made while Prime Minister Shehbaz Sharif is on a visit to Doha, where he met Qatari Emir Sheikh Tamim bin Hamad al-Thani on Wednesday following a meeting with the QIA on Tuesday.
The Emiri Diwan said that the emir stressed upon the importance of “brotherly and strategic relations” between Pakistan and Qatar and their desire to improve their economic partnership by increasing trade exchange and promoting investments through the Qatar Investment Authority.
Media reports have also stated that PM Shehbaz was considering offering Qatar shares in state-owned enterprises, including the Pakistan International Airlines and the Roosevelt Hotel in New York.
Pakistan and Qatar also agreed for promotion of cooperation in various sectors, according to state media.
Prime Minister Shehbaz Sharif met with Emir of Qatar Sheikh Tamim Bin Hamad Al Thani in Doha on Wednesday. Upon his arrival at the Emiri Diwan to meet the emir of Qatar, PM Shehbaz was welcomed warmly.
According to APP, Prime Minister Shehbaz Sharif was presented guard of honor by the Emiri guards upon his arrival at Emiri Diwan.
PM Shehbaz, who is in Doha on a two-day official visit, also met the chairman of Qatar Businessmen Association. Promotion of economic relations between Pakistan and Qatar were discussed.
Shehbaz Sharif met with Qatari Prime Minister Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani on Tuesday. The premier also addressed Pakistan-Qatar Trade and Investment Roundtable conference.
PM Shehbaz earlier stated that he had planned to highlight sectors including renewable energy, food security, industrial and infrastructure development, tourism and hospitality. He invited business community of Qatar for investment in Pakistan in sectors of energy, aviation, livestock, agriculture, tourism and hospitality.
Pakistan has been hoping of seeking LNG at deferred payments from Qatar under long-term deals, according to Reuters. Reuters has also stated, quoting an aide to the PM Shehbaz, that Pakistan was also seeking support from Qatar up to $2 billion for its foreign reserves.
The federal cabinet has also given approval to a draft agreement for provision of troops for security purpose at the FIFA World Cup in Qatar later this year.