PM Shehbaz seeks Qatari investment as Pakistan looks to revive economy

• Premier seeks investment from Qatar in Pakistan's energy and aviation sectors.
• Sources say the premier is expected to offer Qatar shares in state-owned enterprises.
• PM Shehbaz is also expected to offer opportunity to manage Pakistan's airports.

DOHA: Prime Minister Shehbaz Sharif on Tuesday sought investment from Qatar in Pakistan's energy and aviation sectors as the country looks to revive its teetering economy.

According to Prime Minister's Office, the premier held a meeting with the Qatar Investment Authority in Doha. It should be noted that he is visiting Qatar in hopes of attracting trade and investment to Pakistan.

“There are vast opportunities for trade and investment in both the countries,” he said, identifying agriculture, renewable energy, IT, tourism and hospitality as some of the potential sectors.

He emphasised that renewable energy projects need attention.

PM Shehbaz’s Qatar visit precedes an International Monetary Fund (IMF) meeting next week that is expected to approve a $1.2 billion tranche of lending, which has been stalled since the beginning of the year.

PM to offer shares in state-owned enterprises

The PM office did not give details of his agenda but two sources close to him said he was expected to offer Qatar shares in state-owned enterprises, including the loss-making Pakistan International Airlines and the Roosevelt Hotel in New York.

He was also expected to offer the opportunity to manage Pakistan's airports and hoped to secure energy deals, aides said.

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

Pakistan has two long-term LNG supply deals with Qatar to provide up to nine cargoes a month.

"We will surely seek any facility of deferred payments on our LNG deals," an aide to Sharif told Reuters, adding that the country was also seeking support for its foreign reserves to the tune of $2 billion.

The cabinet on Monday also approved a draft agreement that allows the government to provide troops for security at the FIFA soccer World Cup in Qatar this year.