Qatar Investment Authority plans to invest $3 bln in Pakistan

The Qatar Investment Authority (QIA) aims to invest $3 billion in Pakistan, Qatar’s Emiri Diwan said on Wednesday, lending support to the cash-strapped economy.
“The Qatar Investment Authority announced its aspiration to invest $3bn in various commercial and investment sectors in the Islamic Republic of Pakistan,” the Emiri Diwan said, without giving details.
The announcement was made during a visit to Doha by Prime Minister Shehbaz Sharif, who held official talks with Qatari Emir Sheikh Tamim bin Hamad al-Thani on Wednesday after a meeting with the QIA on Tuesday.
“His Highness stressed the importance of the brotherly and strategic relations between the two countries and their aspiration to enhance economic partnership by raising trade exchange and promoting investments through the Qatar Investment Authority,” the Emiri Diwan said.
The prime minister’s visit to Qatar precedes an International Monetary Fund meeting next week that is expected to approve more than $1bn in financing that has been stalled since the beginning of the year.
PM Shehbaz on Tuesday invited QIA, Qatar’s $450bn sovereign wealth fund, to invest in Pakistan’s energy and aviation sectors.
He had previously said he would highlight sectors including renewable energy, food security, industrial and infrastructure development, tourism and hospitality.