ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif travelled to Qatar on Wednesday (Aug 23) within the hope of generating industry and investment just for his cash-strapped nation, his office plus aides said.
“I may highlight the exciting expense opportunities in Pakistan’s various sectors such as renewable energy, food safety, industrial and facilities development, tourism and hospitality, ” Sharif said in a statement before setting off.
The South Hard anodized cookware country of 230 million people is in economic turmoil having a balance of payment crises as its foreign reserves have fallen to as low as US$7. 8 billion, barely enough for more than the usual month of imports, a widening current account deficit, a historical depreciation of the rupee against the US dollar and 24. nine per cent inflation posted in July.
The visit is coming ahead of a global Monetary Fund conference next week that is expected to approve an US$1. 2 billion tranche of lending, which has been stalled since the start of the year.
Sharif’s office did not give details of his agenda but two resources close to him stated he was expected to offer Qatar stocks in state-owned businesses, like the loss-making Pakistan International Airlines and its Roosevelt Hotel within New York.
This individual was also expected to provide the opportunity to manage Pakistan’s airports and wished to secure energy offers, they said.
Pakistan, a major importer associated with liquefied natural gas (LNG) from Qatar, furthermore hoped to seek the deferred payment policy for the LNG purchased under long term offers.
Pakistan has two long-term LNG supply deals with Qatar to provide for up to 9 cargoes a month.
“We will surely seek any facility associated with deferred payments on this LNG deals, inch an aide in order to Sharif told Reuters, adding that Pakistan was also seeking support for its foreign supplies to the tune associated with US$2 billion.
Sharif’s cabinet upon Monday approved the draft agreement which allows the government to provide troops for security in the FIFA soccer Globe Cup in Qatar this year.