Miftah terms as encouraging Qatar's decision of investing at least $3b in Pakistan

Islamabad: Finance Minister Miftah Ismail on Friday termed as encouraging Qatar's decision of investing at least three billion dollars in Pakistan.

Addressing a news conference, he rejected speculations of purchase of Roosevelt Hotel and PIA by Qatar. He said there have been no talks in this regard.

The Finance Minister clarified that Qatar has evinced interest in the long term lease and management control of airports and construction of some facility at seaport. He said Qatar has also shown interest in the LNG plants and solar power projects.

He said Pakistan intends to install solar power projects of eight thousand megawatts which will help bring down the prices of electricity.

Miftah Ismail said Qatar may also invest in the stock market.

The Finance Minister said UAE will invest one billion dollars in Pakistan while Saudi Arabia will provide oil worth one billion dollars on deferred payment.

Alluding to the relief extended by the government to the power consumers using up to two hundred units. The Finance Minister clarified that those who have not yet paid the electricity bills will be issued with corrected ones without fuel price adjustment. He said those who already have paid the bills, the adjustment will be made in September bills.

The Finance Minister said the Prime Minister has also constituted a committee to consider as to how the consumers using between 200 and 300 units can be facilitated.

Miftah Ismail said that Pakistan has fulfilled all the requirements of the IMF and the country will receive the next tranche after its board meeting on Monday.