An investment of $3 billion in trade, tourism, business events and exchange of financial intelligence, will be offered by Qatar to Pakistan, according to the officials of the Ministry of Finance.
The three MoUs for the aid, signed by the Emir of Qatar Sheikh Tamim bin Hamad Al Thani on Monday, makes the total investments by Doha stand at an estimated $9 billion.
As soon as the Emir of Qatar landed in Pakistan as a part of a two-day visit to the state on Prime Minister Imran Khan's invitation, discussions between the two leaders were held at the Prime Minister's estate in Islamabad, reported the Dawn.
A meeting between both the countries' delegations was also held, in which "both the leaders covered the entire gamut of bilateral relations to enhance cooperation in diverse fields", according to a statement by the Prime Minister's Office.
The new developments also aim to strengthen relations between the two countries The Adviser to the Prime Minister of Pakistan, Abdul Hafeez Shaikh posted on Twitter on Monday.
Want to thank the Emir of Qatar HRH Sheikh Tamim Bin Hamad Al Thani for announcing US $3 Billion in #deposits and direct #investments for #Pakistan and for #Qatar’s affirmation to further develop relations between the two countries.
— Dr. Abdul Hafeez Shaikh (@a_hafeezshaikh) June 24, 2019
Pakistan's cash-crunched economy has received aid from the US, China, Saudi Arabia as well as multilateral institutions such as the World Bank and Asian Development Bank.
On May 12, the International Monetary Fund (IMF), announced a $6 billion loan to Pakistan with conditions such as restrictions on public spending. The country already owes $5.8 billion to the IMF from past bailouts, of which it has completed the programme only once according to an ORF report on Pakistan's economy.
Recently top officials from Qatar met Pakistani officials in Islamabad for deals in cooperation in aviation, maritime affairs and higher education. Strengthening of defence ties and defence technology reported GeoTV.
