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Pakistan received $500 million from Qatar

30 June, 2019

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KARACHI: Pakistan on Saturday received the first tranche of $500 million from Qatar under the $3 billion package consisting of a foreign currency deposit and direct investment. State Bank of Pakistan’s chief spokesman Abid Qamar said that a deposit of $500m had been received from the gas-rich nation.

Qatar had announced the package a day after its ruler Emir Sheikh Tamim bin Hamad Al Thani’s two-day visit to Islamabad last week.

Qatar is the fourth country which offered a support package to Pakistan making the combined bilateral loans from all these friendly countries during the current fiscal year to more than $12.7bn before Pakistan formally enters an International Monetary Fund programme for $6bn financing next month.

So far, Saudi Arabia, China and the United Arab Emirates have extended about $9.7bn in loans and cash deposits to Islamabad since the Pakistan Tehreek-i-Insaf came to power in August last year.

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