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Billions of dollars investment by Qatar in power, gas sectors soon

Billions of dollars investment by Qatar in power, gas sectors soon

LAHORE: The investment institution of Qatari government, Qatar Investment Authority, has nodded to invest billions of rupees in various sectors including power generation and gas supply in Pakistan.

Qatar Investment Authority made this announcement during a meeting with Punjab Chief Minister Shahbaz Sharif and his entourage. Federal Minister for Petroleum Shahid Khaqan Abbasi, Special Assistant to Chief Minister Dr Musadiq Malik and Ambassador of Pakistan in Qatar Shahzad Ahmed were also present on the occasion.

It was decided in the meeting that a high-level delegation of Qatar Investment Authority will visit Pakistan this month to discuss Qatari investment. It may be mentioned that work on the development projects of billions of dollars is continuing in various countries of the world including Turkey, Middle East and Europe with the capital of Qatar Investment Authority, however, the investment by Qatar Investment Authority in Pakistan is negligible.

Speaking on the occasion, the Chief Minister said that Pak-Qatar relationship is taking new dimension and the decision of investment of billions of rupees by Qatar government will usher a new era of foreign investment in Pakistan.

Meanwhile, Shahbaz Sharif met Prime Minister of Qatar Sheikh Abdullah Bin Nasir Khalifa Althani in Doha. Promotion of bilateral relations and prospects of investment were discussed during the meeting.

Talking to the CM, the Prime Minister of Qatar said that stability of Pakistan is the stability of Qatar and Qatar wants to see Pakistan a peaceful and prosperous country. He said that Qatar government will welcome manpower of Pakistan openheartedly.

Sharif said that vast opportunities of investment exist in Pakistan. He said that the situation in the region is improving and the relations with Afghanistan have improved. He expressed the hope that Pakistan will soon overcome terrorism.

Qatar officials assured the CM that Qatar will extend cooperation to Pakistan in various sectors of national development and Qatar is ready to make Pakistani manpower part of development process in Qatar. They said that the role of Pakistani manpower and overseas Pakistanis cannot be forgotten in the national development of Qatar in early days and assured to promote cooperation in various sectors with Pakistan in coming days.

Speaking on the occasion, Shahbaz Sharif said that all reservations of Qatar will be removed with regard to expertise of manpower and security matters.

He said that a new era of relations between both the countries has started due to his visit to Qatar. He said that there is a vast scope of investment in various sectors in Pakistan particularly Punjab. He said that government is providing facilities to the investors on priority basis and investors of Qatar can benefit from investment opportunities in various sectors in Punjab. The Chief Minister said that a conducive atmosphere has been created for investment in Punjab and all facilities are being provided to investors under one roof. He said that the project of construction of LNG terminal in Karachi is being completed speedily and will be completed in a record period.