‘Qatar announces $3bn loan’

ISLAMABAD: A bailout package of $3 billion announced by Qatar would be used for supporting foreign exchange reserves and investment sector.

Qatar is fourth donor nation that has come forward to rescue Pakistan from default during Pakistan Tehreek-e-Insaaf governmnet.

Earlier, China has given $4.6 billion in shape of deposits and commercial loans, Saudi Arabia provided $3 billion cash deposit and $3.2 billion oil facility on deferred payments and

United Arab emirates though not yet relaesed last tranche of $1 billion has provided $3 billion on bailout head.

Advisor to Prime Minister on Finance, Dr Abdul Hafeez Shaikh made this announcement through his Twitter handle.

Qatar’s Emir ended his two-day visit to Pakistan a day earlier.

Pakistan has also reached a staff-level agreement with International Monetary Fund for a $6 billion bailout package, which is expected to be approved by IMF Executive Board on July 3.

Leave a Reply

Your email address will not be published. Required fields are marked *