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Pakistan thanks Qatar for planned $3 billion investment

June 25, 2019 GMT

Qatar's Emir Sheikh Tamim bin Hamad Al Thani listens to Russian President Vladimir Putin during their meeting on a sideline of the Conference on Interaction and Confidence Building Measures in Asia (CICA) in Dushanbe, Tajikistan, Saturday, June 15, 2019. (Alexei Druzhinin, Sputnik, Kremlin Pool Photo via AP)

ISLAMABAD (AP) — Islamabad has thanked Qatar for the $3 billion investment in Pakistan announced by the energy-rich Gulf Arab nation’s ruler.

Abdul Hafeez Shaikh, economic adviser to Pakistani prime minister, tweeted Pakistan’s thanks on Monday, hours after Emir Sheikh Tamim bin Hamad Al Thani made the announcement, which was carried on Qatar’s official news agency.

It followed the emir’s two-day visit to Pakistan over the weekend, during which he held talks with Prime Minister Imran Khan. It was the Qatari ruler’s first time in Pakistan in four years.

Qatar’s efforts to help Pakistan’s troubled economy come as Saudi Arabia is expected to start supplying Islamabad with oil, with payments deferred for three years.

Cash-strapped Pakistan also recently reached a preliminary agreement with the International Monetary Fund for a $6 billion bailout.