Pakistan PM Seeks Qatari Investment in Energy and Aviation Sectors

Pakistan PM Seeks Qatari Investment in Energy and Aviation Sectors

Pakistan Prime Minister Shehbaz Sharif invited Qatar to invest in Pakistan's energy and aviation sectors during a meeting with the Qatar Investment Authority in Doha on Tuesday, according to a statement from Sharif's office.

Sharif travelled to Qatar earlier on Tuesday in hopes of attracting trade and investment for his country, his office and aides said.

Sharif said earlier he planned to highlight sectors including renewable energy, food security, industrial and infrastructure development, tourism and hospitality.

The South Asian country of 220 million people is in economic turmoil with a balance of payment crisis as its foreign reserves have fallen as low as $7.8 billion, hardly enough for more than a month of imports.

Pakistan also faces a widening current account deficit and a historic depreciation of the rupee against the US dollar. In July it posted inflation of 24.9%.

"The Prime Minister invited the Qatari businessmen to invest in Pakistan's energy, aviation, agriculture and livestock, maritime, tourism and hospitality sectors," the statement said.

Sharif's Qatar visit precedes an International Monetary Fund 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.

Sharif's office did not give details of his agenda but two