Pakistan thanks Qatar for planned $3 billion investment

ISLAMABAD (AP) — Islamabad has thanked Qatar for the $3 billion investment in Pakistan announced by the energy-rich Gulf Arab nation’s ruler.

Abdul Hafeez Shaikh, economic adviser to Pakistani prime minister, tweeted Pakistan’s thanks on Monday, hours after Emir Sheikh Tamim bin Hamad Al Thani made the announcement, which was carried on Qatar’s official news agency.

It followed the emir’s two-day visit to Pakistan over the weekend, during which he held talks with Prime Minister Imran Khan. It was the Qatari ruler’s first time in Pakistan in four years.

Qatar’s efforts to help Pakistan’s troubled economy come as Saudi Arabia is expected to start supplying Islamabad with oil, with payments deferred for three years.

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Cash-strapped Pakistan also recently reached a preliminary agreement with the International Monetary Fund for a $6 billion bailout.

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