Syed Marwan Shah

The planned investment by Qatar in various sectors in Pakistan will cement diplomatic ties and enhance the volume of bilateral trade between the two countries, WealthPK reports. Qatar has shown interest in making investments in the aviation and energy sectors in Pakistan. The economic and trade relations between the two countries contribute to strengthening their economies besides serving the mutual interests of both countries.

Ambassador of Qatar to Pakistan Sheikh Sauod bin Abdulrahman bin Faisal Al-Thani recently mentioned during a meeting with Minister for Finance Miftah Ismail that Qatar is planning to invest in various sectors in Pakistan including energy, trade and businesses to strengthen bilateral economic ties between the two countries.

The state-owned Pakistan International Airlines (PIA) suffered an annual net loss of more than Rs50 billion in 2021, making it one of the top 10 loss-making enterprises in the country. However, Pakistan is expected to offer stakes in state-owned enterprises (SOEs) to Qatar including the loss-making PIA and Roosevelt Hotel in New York. In addition, Pakistan is expecting investments in the energy sector and management of airports.

According to WealthPK research, Pakistan Railways, a most discussed SOE for experiencing repeated annual losses that run into billions, also needs investment for its complete overhaul. The investments in railways will be important for the country to put the sector back on track.

Different sectors in Pakistan including banking, insurance, tourism, information and communication technology, oil and gas, energy, and agriculture can also attract investment.

The Qatari government has invested in various sectors in Pakistan including agriculture, information and communication technology, financial sector, insurance and real estate to get benefits from the China-Pakistan Economic Corridor.

According to data released by the State Bank of Pakistan (SBP), exports to Qatar increased by 31.18 percent to reach $196.601 million in the financial year 2021-22 from $149.864 million in the fiscal year 2020-21. Pakistan’s import items to Qatar include rice, bovine carcasses, potatoes, onions, guavas and mangoes, etc.

Likewise, the export of footballs to Qatar increased by 44.84 percent. Pakistan is the official football supplier for the upcoming FIFA World Cup, which will be held in Doha, Qatar, in November.

By 2030, Pakistan is expected to become one of the top 20 economies in the world. After the completion of mega projects China-Pakistan Economic Corridor and the port of Gwadar, the volume of Pakistani trade will reach $350 billion, according to the data available with WealthPK.

Credit: Independent News Pakistan-WealthPak