KARACHI:
Acting State Bank of Pakistan (SBP) Governor Murtaza Syed has said thefriendly Gulf countries – Qatar, Saudi Arabia and UAE – have devised theirstrategies to cumulatively provide $4 billion financial support to Pakistanover the next one year.
“Qatar will provide a bilateral assistance worth $2 billion,” Syed wasquoted as saying while briefing analysts after the announcement of themonetary policy on Monday. The statement came ahead of Prime MinisterShehbaz Sharif’s official visit to Qatar on Tuesday and Wednesday (todayand tomorrow).
Besides Qatar, Syed said, Saudi Arabia would finance $1 billion throughsupplying petroleum products on deferred payments over the next 12 months.The United Arab Emirates (UAE) would invest $1 billion in Pakistan, Syedwas quoted by an expert who attended the briefing.
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Earlier, the federal government planned to give substantial shareholding tothe UAE in the Pakistan International Airlines (PIA) and its RooseveltHotel in New York.
While announcing the latest monetary policy, the central bank left the keypolicy rate unchanged at 15% for the next seven weeks.
