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Qatar Investment Authority considering about $3bn investment in Pakistan: report

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4 years ago

Qatar Investment Authority considering about $3bn investment in Pakistan: report. Qatar Investment Authority (QIA), one of the largest sovereign wealth funds in the world, may invest about $3 billion in different sectors of Pakistan’s economy, reported Bloomberg, citing people familiar with the matter.

The report said the $445-billion QIA is evaluating strategic investments in the country’s main airports in Islamabad and Karachi, as well as in the renewable energy, power and hospitality sectors, the people said, not quoted because the information is private.

The development comes days after it was reported that Pakistan will receive about $2 billion from Qatar in bilateral support to help ease its financing crunch, according to the acting governor of the State Bank of Pakistan (SBP) Dr Murtaza Syed.

“The investments from the QIA may partly overlap with the $2 billion in bilateral support Qatar has already planned for Pakistan,” Bloomberg quoted one of the people as saying.

“The fund may end up investing more or less than $3 billion depending on the asset valuations and opportunities,” the people said, without sharing a time frame, according to the report.

Prime Minister Shehbaz Sharif, who is currently an official visit to Qatar, on Tuesday invited investors from the Middle Eastern ally to invest in Pakistan’s energy, aviation, agriculture, livestock, maritime, tourism and hospitality sectors.

The premier, in a meeting with the highest officials of QIA, had highlighted Pakistan’s liberal and business-friendly investment policies.

He also urged Qatari investors to explore the opportunities presented by the China-Pakistan Economic Corridor (CPEC) aimed at promoting regional connectivity and mutual prosperity.

Terming Pakistan a priority country, QIA officials expressed their keen interest and readiness to actively pursue investment opportunities in the country.

Pakistan is desperately seeking dollar inflows, with the International Monetary Fund (IMF) Executive Board set to announce its decision on the country’s combined seventh and eighth reviews under the Extended Fund Facility (EFF) on August 29.

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