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Business & Finance

Govt says multi-billion dollars Qatari investment not diverted to Bangladesh

  • Earlier, local media reports said that Pakistan and Qatar authorities had negotiated $5 billion investment projects in Pakistan but they could not be materialized.
12 May 2021

The government has denied reports stating that Pakistan has lost $ 5 billion Qatari investment to Bangladesh.

“Qatar is still interested to invest in projects that fall under energy, aviation and privatization ministries including RLNG power plants, airport upgradation and hotel management,” Aliya Hamza Malik, Parliamentary Secretary for Textile, Commerce, Industries and Production, and Board of Investment, quoted Arab News.

“This is misconception that investment commitments have been diverted to another country, even Bangladesh,” she said. “Pakistan is still pursuing with Qatar for the committed investment.”

Earlier, local media reports said that Pakistan and Qatar authorities had negotiated $5 billion investment projects in Pakistan but they could not be materialized.

The government official informed that three memoranda of understanding were signed by Qatar with different Pakistani ministries for the planned investment.

“I have checked with all the ministries if they got shifted to other country, not even to Bangladesh, and the response was that privatization commission and foreign office are continuously perusing with Qatar the investment matters.”

It is pertinent to mention that the $ 5bn investment from Qatar was committed towards RLNG power plants, refurbishment of airports and hotels in Pakistan.