LAHORE – Pakistan on Saturday received first tranche of US $500 millionfrom Qatar to boost dwindling foreign-exchange reserves, the State Bank ofPakistan (SBP) revealed.
According to SBP sources, Qatar initially approved US $3 billiontransaction to improve the forex reserves of Pakistan whereas the forexwill reach US $14.80 billion.
The money has been received by the Pakistan in the form of investment assources said.
On June 24, according to details, the Qatar News Agency has reported theinvestments by citing its foreign minister.
It follows Saudi Arabia and the United Arab Emirates pledging aid packagesfor Pakistan. Riyadh has given a $3 billion loan to Pakistan whereas UnitedArab Emirates provided $1 billion.
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The south Asian country and the International Moneary Fund (IMF) hadreached an agreement in May on a loan of about $6 billion to overcomeeconomic crisis.
Adviser to the Prime Minister of Pakistan on Finance, Revenue and EconomicAffairs Dr Abdul Hafeez Shaikh has also thanked the Emir of Qatar forshowing support to Pakistan.
