Pakistan likely to get yet another $4 billion economic lifeline facility

Pakistan likely to get yet another $4 billion economic lifeline facility
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ISLAMABAD - After Saudi Arabia, Qatar has also decided to become a part of the China-Pakistan Economic Corridor (CPEC).

According to the sources available, Qatar wishes to invest in Gwadar, the key route of CPEC . The Gulf state is going to invest in the Frozen Food sector.

With this investment, it will not only meet its intrastate demands but will also play a role in the development of the region.

Reportedly, Qatar will also work closely with the National Engineering Services Pakistan (NESPAK). Moreover, it will collaborate with Engro Polymer & Chemicals Ltd. on the installation of polythene and polymer plants. ------------------------------

Qatar is aiming to play a leading role in the region and this investment will be a step forward in this regard. Also, the investment will help strengthen the ties between the two countries.

This deal is not the only one that has been proposed lately. According to the local media, Pakistan is seeking a liquefied natural gas (LNG) credit facility from Qatar as well and also wants a revision in the agreed gas price from the Gulf state to cushion its balance of payments.

Pakistan’s annual LNG import bill values around $4 billion. The country is seeking to secure a credit facility for one year. Petroleum Minister Ghulam Sarwar Khan has already informed that the country will continue the previous long-term LNG supply agreement with Qatar.

Via: Express.pk link

Economy