Information Minister Claims Qatar Will Invest $3 Billion in Pakistan

Minister for Information and Broadcasting Attaullah Tarar Friday said Qatar would make an investment of $3 billion in diverse sectors which would have a significant impact on the national economy and ultimately benefit the masses.  

A delegation from Qatar would soon visit Pakistan to materialize the investment pledge, said the minister while addressing a news conference which mainly highlighted the substantive economic gains, achieved by Pakistan with the recent visit of Prime Minister Shehbaz Sharif to Saudi Arabia and Qatar.   

He congratulated the whole nation on the foreign policy and economic achievements made by Pakistan under the leadership of Prime Minister Shehbaz Sharif who charted the country on the path of economic progress.  

The minister recalled the signing of 27 Memoranda of Understanding (MoUs), amounting to $2.2 billion investment, during the successful visit of a high-level Saudi delegation, led by Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh, a few weeks ago which included fruitful government-to-government and business-to-business meetings.  

In a follow-up of that visit, the prime minister has had very productive meetings in Saudi Arabia that also included his meeting with Saudi Crown Prince Mohammed bin Salman on the sidelines of the eighth session of the Future Investment Initiative (FII) in Riyadh,” Tarar noted.   

He said during the meeting, both sides reiterated to further strengthen the bilateral relations and enhance trade and investment in Pakistan.   

Both countries have longstanding people-to-people relations which spanned over decades, he said lauding the hospitality extended by Saudi Arabia to the pilgrims from Pakistan during Umrah and Hajj.  

He said the prime minister had thanked Saudi Arabia for hosting Pakistanis for Hajj and its crucial role in Pakistan’s deal with the International Monetary Fund (IMF).   

During the recent visit of the prime minister, he said, delegation level talks were also held between both sides that led to an increase in the number of MoUs from 27 to 34, while the volume of investment has also been enhanced to $2.8 billion.  

The minister said an additional investment of $600 million would have a positive impact on the economy. “We believe this is a major step towards attracting foreign investment in mining, energy, agriculture, livestock, IT, and Human Resource Development sectors of the economy,” he said.

As regards the visit of the prime minister and his delegation to Qatar, he said this has great importance for the bilateral relations of the two countries which was reflected by the joint statement issued upon conclusion of the visit.        

He said Qatar had hosted an art exhibition celebrating Pakistani artwork, putting up the masterpieces of Pakistani art on display from 1947 to the present. The exhibition featured renowned Pakistani artists and painters, including the acclaimed architect Nayar Ali Dada.   

The prime minister, he said, had expressed his gratitude to Amir of Qatar Sheikh Tamim Bin Hamad Al-Thani and his sister Sheikha Al-Mayassa bint Hamad bin Khalifa al-Thani for organizing such an exhibition in the honor of Pakistan.  

The relationship between Prime Minister Shehbaz Sharif and the Emir of Qatar was further emphasized by the warm reception he received during his visit.

This is a shortened version of a story carried by APP.