ISLAMABAD: Pakistan and Qatar have signed a protocol that commits both nations to realize Doha’s $3 billion investment in Pakistan’s key sectors, the economic affairs ministry said in a statement on Thursday, amid Islamabad’s efforts to attract foreign funding to stabilize its economy.
The development took place during the sixth session of the two-day Pakistan-Qatar Joint Ministerial Commission (JMC) on economic, trade and technical cooperation between the two countries. The Qatari emir’s office said in 2022 that the Qatar Investment Authority aims to invest $3 billion in Pakistan to support the South Asian nation’s cash-strapped economy. Qatar’s investment will focus on Pakistan’s transport, civil aviation, education, health, culture, media, communications, information technology and labor sectors.
The agreement was signed between Pakistan’s Commerce Minister Jam Kamal Khan and his Qatari counterpart, Sheikh Faisal bin Thani bin Faisal Al Thani, during the JMC meeting, the economic affairs ministry said.
“In the realm of trade, economy and investment, the signed protocol commits both nations to realizing His Highness the Emir of Qatar’s vision of investing $3 billion in Pakistan through the Qatar Investment Authority or other investment vehicles,” the Pakistani ministry said.
