Visit of Emir, Qatar will take its business with Pakistan up to $9 Billion
- Qatar signed agreements worth $3 billion in the form of deposits and direct investments.
- The economic partnership between Pakistan and Qatar will is be going to reach $9 billion.
- The economy of Pakistan is likely to grow between 4.0 and 4.5% for the fiscal year ending June 2019 – IMF
Emir Qatar, Sheikh Tamim bin Hamad Al Thani, concluded his two-day visit to Pakistan on Sunday, 23rd June.
According to reports, Qatar is going to make the investment worth $3billion in Pakistan.
The economic partnership between Qatar and Pakistan will reach $9 billion after this investment. Qatar also confirmed its aspiration for further development in the relations between the two countries at all political, economic, cultural and sports level.
Pakistan has already received an International Monetary Fund bailout last month and now it will receive $3 billion in deposits and direct investments from Qatar.
A team from the International Monetary Fund visited Pakistan in November and discussed possible bailout with officials.
The IMF says that the Pakistani economy is likely to grow between 4.0 and 4.5 % for the fiscal year ending June 2019, compared to 5.8% growth in the last fiscal year.
The government of Pakistan is stabilizing an unstable economy with loans from Gulf countries and international donors.
Qatar follows Saudi Arabia and the United Arab Emirates providing assistance packages for Pakistan. Riyadh has given$3 billion loans to Pakistan. Whereas, United Arab Emirate (UAE) is Pakistan’s largest trading partner that provided $1 billion.
With these investments, Pakistan will come out from difficult situations. Earlier, Pakistan and Saudi Arabia took their relationship to a new level and now the Emir Qatar visit to Pakistan will further cement the existing brotherly relations between Qatar and Pakistan. So far the outcomes of previous investments are very positive and this is also going to one of the biggest investments in Pakistan.