Qatar’s Emir Sheikh Tamim bin Hamad Al Thani recently made an official visit to Pakistan. Following one-to-one meeting with Pakistan’s primer Minister Imran Khan, Qatar announced that it would make a $3bn investment in Pakistan. The additional funding, which was announced by Qatar News Agency (QNA), brings Qatar’s total investment in Pakistan to $9bn. The funding comes as an endorsement to the current administration, according to Qatar’s Ministry of Foreign Affairs, and will the cash-trapped country to shore up its troubled economy.
Abdul Hafeez Saikh, Pakistani primer minister’s adviser on finance reacted to the news on Twitter.
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) 24 June 2019
The fourth country to make an investment in Pakistan
Boosted by a world’s largest middle class, Pakistan is ranked among the fast growing economies in the world. American investment bank Goldman Saches expects its economy to be the world’s 18th largest by 2050.
China, the UAE and Saudi Arabia have also provided funding to Pakistan and last month, the IMF announced a bailout package of $6bn.