Updated: August 26, 2022 08:32 STI
Islamabad [Pakistan]Aug 26 (ANI): Pakistani Finance Minister Miftah Ismail on Thursday said Qatari investment will end the country’s financing gap, local media reported.
Ismail said Qatar has offered $3 billion in investments to Pakistan and that this investment will end the financing gap in the country, ARY News reported.
“IMF [International Monetary Fund] was briefed on Qatari investments,” Ismail said.
“Qatar is showing interest in investing in Haveli Bahadur Shah and Balloki power plants. Qatar is also willing to invest in airports. Qatar will make investments in Karachi and Islamabad airports, and development projects. solar energy,” said the finance minister.
He also said that Qatar would make investments in the Port Qasim cargo terminal. Doha is also willing to invest in stock market shares. In addition, Qatar plans to give work to 200,000 Pakistanis.
Meanwhile, Pakistan is expected to sell shares of the Roosevelt Hotel in Manhattan in New York to Qatar in exchange for Doha’s investment in the aviation sector, ARY News reported citing sources.
The Roosevelt Hotel, established in 1924, is one of America’s Historic Hotels and is located in luxurious downtown Manhattan.
During Pakistani Prime Minister Shehbaz Sharif’s visit to Qatar, massive investment is expected to be made in Pakistan’s aviation sector by Doha.
Sources said Qatar has expressed interest in investing in the airport and hotel sectors.
The federal government will hand over the administrative affairs of Islamabad International Airport to Qatar, while a Qatari company will provide the relevant airport terminal and cargo services.
Meanwhile, Saudi Arabia on Thursday announced the investment of $1 billion in Pakistan to support the country’s economy, FYR reported citing the Saudi Press Agency (SPA).
The development comes during a phone call between Saudi Prince FM Faisal bin Farhan bin Abdullah and Foreign Minister Bilawal Bhutto Zardari, where he briefed the latter on the king’s directive.
Taking to Twitter, Bilawal said, “Nice to have a chat with HH FM @FaisalbinFarhan. & KSAs all possible assistance”
Bilawal Bhutto also briefed his counterpart on the damage caused by unprecedented floods in parts of Pakistan. The Foreign Minister thanked his Saudi counterpart for the solidarity and all possible assistance Saudi Arabia has provided to the flood victims in Pakistan during these difficult times. (ANI)