Pakistan attracts $4.2 billion foreign investment

Pakistan attracts $4.2 billion foreign investment

DOHA - Qatar said Wednesday (Aug 24) it would invest US$3 billion (S$4.2 billion) in Pakistan's debt-ridden economy in the latest boost by a Gulf state for the ailing South Asian nation.

Pakistan has been scrambling for finance in recent months, and the International Monetary Fund is due to meet next Monday to discuss reviving a suspended US$6 billion loan programme.

The United Arab Emirates this month said it would invest US$1 billion in Pakistan and, according to reports,

Saudi Arabia is considering extending an emergency US$2 billion loan made last year.

The latest boost came in talks between Qatar's emir Sheikh Tamim bin Hamad Al Thani and Pakistan's Prime Minister Shahbaz Sharif.

The emir "stressed the importance of the brotherly and strategic relations between the two countries" and the need to bolster their economic partnership, an official Qatari statement said. -APP/AFP