The Qatar Investment Authority (QIA) aims to invest $3 billion in Pakistan, Qatar\u2019s Emiri Diwan said on Wednesday, lending support to the cash-strapped economy.
\n\u201cThe Qatar Investment Authority announced its aspiration to invest $3bn in various commercial and investment sectors in the Islamic Republic of Pakistan,\u201d the Emiri Diwan said, without giving details.
\nThe 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.
\n\u201cHis 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,\u201d the Emiri Diwan said.
\nThe prime minister\u2019s 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.
\nPM Shehbaz on Tuesday invited QIA, Qatar\u2019s $450bn sovereign wealth fund, to invest in Pakistan\u2019s energy and aviation sectors.
\nHe had previously said he would highlight sectors including renewable energy, food security, industrial and infrastructure development, tourism and hospitality.
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