The Qatar Investment Authority (the Sovereign Wealth Fund) intends to invest about $3 billion in various sectors of the Pakistani economy.
The announcement was made during a visit to Doha by Pakistani Prime Minister Shehbaz Sharif, who held official talks with Qatari Emir Sheikh Tamim bin Hamad Al Thani after a meeting with the Fund on Tuesday. The meeting explored possibilities and opportunities for cooperation between the two countries in various fields.
According to Bloomberg, the Qatari sovereign fund is currently evaluating strategic investments in Pakistan’s main airports in Islamabad and Karachi, as well as in the renewable energy, and hospitality sectors.
This comes just days after the governor of the State Bank of Pakistan announced that Pakistan will receive $2 billion in bilateral assistance from Qatar to help alleviate the funding crisis.
According to one source, Qatar’s Sovereign Fund’s investments may partially overlap with the $2 billion in bilateral assistance the Gulf country has already planned for Pakistan. As a result, the Fund may end up investing more or less than $3 billion depending on asset valuations and opportunities, with no time frame provided.
According to data from the Institute of Sovereign Wealth Funds, Qatar’s sovereign fund has assets worth $491 billion, ranking it ninth in the world.
