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Pakistan Prime Minister Visits Qatar

24 Aug 2022 - 9:53

Shehbaz Sharif travelled to Qatar in the hope of generating trade and investment, to put his cash-strapped country back on track.

Afghan Voice Agency(AVA)_Monitiring, The move came at a time country’s debt reached to a record high, jumping to almost 60 trillion Pakistani Rupees due to a huge currency depreciation and ongoing political crisis under his government.

“I will highlight the exciting investment opportunities in Pakistan’s various sectors such as renewable energy, food security, industrial and infrastructure development, tourism and hospitality,” Sharif said in a statement on Tuesday before setting off, as Aljazeera quoted.

The foreign reserves have fallen to as low as $7.8bn, hardly enough for more than a month of imports, a widening current account deficit, a historic depreciation of the rupee against the United States dollar and 24.9 percent inflation posted in July.

In a statement shared with Al Jazeera, the Pakistani ministry of foreign affairs said it as Sharif’s first visit to Qatar since assuming office in April this year.

“During the visit, the Prime Minister will hold in-depth consultations with the Qatari leadership. The two sides will review the entire spectrum of bilateral relations, with a particular focus on advancing energy-related cooperation, deepening trade and investment ties, and exploring greater employment opportunities for Pakistanis in Qatar,” it said, as Aljazeera reported.

Pakistan, a key importer of liquefied natural gas (LNG) from Qatar, also hoped to seek a deferred payment plan for the LNG bought under long-term deals.

Story Code: 257541

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