Pakistan to receive $3 Billion from Qatar

Editorial Team27/06/20191min
Qatar is investing $3 billion in the form of deposits and direct investments in Pakistan according to news agency QNA.

“Upon the directives of HH the Amir Sheikh Tamim bin Hamad Al-Thani, HE Deputy Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al-Thani announced new investments in the form of deposits and direct investments in the Islamic Republic of Pakistan worth a total of $3 billion,” the ministry said in a press release.

The investment is in aid of the Pakistani Prime Minister Imran Khan seeking to stabilise Pakistans economy with loans from Gulf countries and international investors. “People in Pakistan are struggling to afford the basics, as inflation reaches its highest level in five years,” said Al Jazeera’s Osama Bin Javaid, reporting from Islamabad.

Following this latest investment, the partnership that benefits the economy reaches a total of $9 billion. The state of Qatar affirms the desire for further development between the two countries politically, economically, culturally and in other aspects.

Recently Pakistan reached an agreement with the International Monetary Fund for a three-year, $6 billion bailout package that aims to improve public finances and strengthen the economy. The United Arab Emirates also confirmed a $3 billion loan package.

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