ISLAMABAD: Prime Minister Shehbaz Sharif announced on Monday that Qatar and Azerbaijan have committed $5 billion in investments across Pakistan’s various sectors, with Qatar alone pledging $3 billion. Speaking at a federal cabinet meeting, PM Shehbaz shared insights from recent productive discussions with Saudi and Qatari leaders, covering key areas like solar energy, mining, minerals, and information technology.
A delegation from Qatar Investment Authority is expected to visit Pakistan soon, following Qatar’s plans to establish an IT park in the country. Additionally, Saudi Crown Prince Mohammed bin Salman has highlighted opportunities for IT-trained workers from Pakistan, underscoring Saudi Arabia’s demand for skilled IT professionals.
PM Shehbaz also updated the cabinet on Azerbaijan’s growing trade relations with Pakistan, with both nations agreeing to enhance investments to $2 billion in various fields. This commitment follows recent agreements signed during Azerbaijani President Ilham Aliyev’s visit.
He highlighted the government’s efforts to stabilize Pakistan’s economy, including the State Bank’s reduction of the policy rate by 250 basis points to 15 percent, aimed at stimulating business, boosting exports, and creating jobs. PM Shehbaz noted that inflation has dropped significantly, and national and international bodies forecast continued economic stability.
Story by Syed Irfan Raza
