Pakistan to get $3bn in deposits, direct investments from Qatar
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Qatar is making $3 billion dollars worth of new investments in Pakistan, in the form of deposits and direct investments, said Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Monday.
The economic partnership between Qatar and Pakistan will reach $9 billion, Qatar News Agency quoted foreign minister Sheikh Mohammed bin Abdulrahman Al Thani as saying.
"The Qatari-Pakistani economic partnership will amount to $9 billion. Qatar affirms its aspiration for further development in the relations between the two countries at all political, economic, sports and cultural levels," said the foreign minister.
The announcement comes a day after Qatar Emir Sheikh Tamim bin Hamad Al Thani wrapped up his visit to Pakistan during which he held a one-on-one meeting with Prime Minister Imran Khan. Delegation-level talks were also held between the two sides.
The prime minister’s adviser on finance, Dr Abdul Hafeez Shaikh, thanked the Emir for "announcing $3 billion in deposits and direct investments for Pakistan and for Qatar’s affirmation to further develop relations between the two countries."
Dr Awan, while talking to the media, thanked the Qatar Emir and his cabinet for the announcement, said Radio Pakistan.
She said that this amount will help Pakistan overcome its economic challenges, adding that Prime Minister Imran's announcement to grant visa on arrival for Qatari citizens will develop tourism sector in Pakistan.
She also hailed Qatar lifting the ban on Pakistani rice, saying it was good news for rice exporters and the economy of the country, Radio Pakistan reported.
MoUs signed
On Saturday, following the Emir's arrival, Pakistan and Qatar signed three memoranda of understanding (MoUs) on trade and investment and cooperation on financial intelligence and tourism.
The signing of the MoUs was witnessed by Prime Minister Imran and Qatari Emir Sheikh Tamim.
The MoUs related to the establishment of the Pakistan and Qatar Joint Working Group on Trade and Investment, cooperation in the field of tourism and business events and cooperation in the exchange of financial intelligence related to money laundering — associated offences and terrorism financing. The last MoU was signed between Qatar’s Financial Information Unit and Pakistan’s Financial Monitoring Unit.
Vow to work for regional peace
On Sunday, President Dr Arif Alvi and Emir Sheikh Tamim held wide-ranging talks, particularly the Afghan issue.
Alvi lauded Qatar’s role in promoting efforts for peace and reconciliation in Afghanistan, which was a notable contribution to regional peace.
While thanking the government and leadership of Pakistan for the gracious invitation and hospitality extended to him and his entourage during his two-day visit, the Qatari emir acknowledged the sacrifices made by Pakistan in the fight against terrorism.
Taking note of the progress achieved in Afghan peace talks, the two leaders agreed to continue working closely for regional peace and stability.
President Alvi conferred Nishan-i-Pakistan upon Sheikh Tamim at a special investiture ceremony.
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On DawnNews
Jun 24, 2019 02:40pm
Good to see Qatar helping poor Muslim brethren!
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Jun 24, 2019 02:41pm
All we know that 3 MOU were signed. How many jobs will be created? How much FDI will be happening? How much will it affect our fiscal debt positively? Who will answer these questions? Will we come to know about it from Mars?
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Jun 24, 2019 02:48pm
modi sent abhinadin to isolate Pakistan.
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Jun 24, 2019 02:56pm
Very good investment package that will benefit both Pakistan and Qatar including the job opportunities for our people. Credit goes to PM for his sincere efforts and taking care of common people and fighting against corruption and mafia that looted tax payers money and increases their personal assets.
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Jun 24, 2019 03:00pm
@zeeshandxb, No from Venus, just wait!!
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Jun 24, 2019 03:00pm
Until last week it was 20 B$ In direct investment. Now it is only 3 B$ that too in MoU. Another mirage from middle east!
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Jun 24, 2019 03:00pm
(MOU ) SEEING IS BELIEVING !!!!!
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Jun 24, 2019 03:04pm
Yay, more money for us poor people from the rich Arabs.
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Jun 24, 2019 03:07pm
@zeeshandxb, being small hearted is never attractive. All will be done in due time.
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Jun 24, 2019 03:07pm
$80B cpec is 50% complete but has failed to make impact. And the loan repayment has not peaked yet.
What happened to $25B receive from KSA+UAE+CHINA+IMF+ADB.
What happened to the Massive OIL FIND?
What happened to MOU of 30B signed with KSA
What happened to MOU of 12B sighned with UAE.
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Jun 24, 2019 03:08pm
But what about Saudi Oil Refinery which is worth of 10 Billion $ ? and also the never ending oil reserves near Karachi ? and what about PM visit to UK, Japan and US ? , also what about meeting with Modi to have cheap medicines import from India to curb high medicine prices ?.
If all of that have one percent progress in it then we can believe on Mr. Selec..... Oh! I mean Mr. Great Honorable PM Imran Khan, but unfortunately that's not the case.
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Jun 24, 2019 03:11pm
What does "Nishan-i-Pakistan" to Qatari Emir Sheikh Tamim: Nothing
So he promised Investment of $3B through MOU which means: Nothing
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Jun 24, 2019 03:11pm
It is 11 Billion less to what Sh Rashid claimed.
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Jun 24, 2019 03:12pm
@Babbar,
It is not really help in the sense that you think. If you read the article carefully, It says "economic partnership" alluding to a mutual beneficial contract. Nobody gives away billions of dollars just because they have a good heart. They want something from us in return. There are no free lunches, Muslims or not.
Also can you tell me if you think they really consider us their brothers and sisters, then why have many pakistani citizens who are living and working in Qatar for decades and some are even born there, not been given Qatari citizenship and why Pakistani "brethren" can not marry "Qatari "brethren"? Can you also explain why many Pakistani "brethren" working in construction in Qatar risk abuse and serious exploitation amounting to forced labour with no protection and rights as documented and reported by various human rights organizations?
I look forward to your reply, brother.
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Jun 24, 2019 03:22pm
PM IK is best person for collecting donations. I love him. He should be minister of such activities in the next govt.
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Jun 24, 2019 03:48pm
@Laila, Why "pakistani citizens who are living and working in Qatar for decades and some are even born there, not been given Qatari citizenship".
This applies to all other countries, not just Pakistan. Do you think they will make just Pakistan specific law?
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Jun 24, 2019 04:06pm
They should invest private entities than government run companies.
It should help employment/ increased taxes .
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Jun 24, 2019 04:10pm
@Zakir Ali Afghani, I agree. Where is all the money going to?
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Jun 24, 2019 04:18pm
Good to hear that direct investment in Pakistan has been increased in IK leadership.
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Jun 24, 2019 04:21pm
Great Achievement by Mr. Hafiz Sheikh
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Jun 24, 2019 04:30pm
Still all just talk, doesn’t say when and where the money will be invested. This is again just pie in the sky
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Jun 24, 2019 04:31pm
@zeeshandxb, you should have led the negotiations and provided the missing details to the nation. Talking is the easiest thing to do
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Jun 24, 2019 04:49pm
@zeeshandxb - These things I'm sure have not been finanlised yet. Just calm down and give both Govts time to sort out the nitty gritty.
Excellent new for Pakistan. This foreign investement is what we need to build Pakistan's economy. Look at India's economy. A huge part of is reliant on foreign investment especially their IT sector.
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Jun 24, 2019 04:53pm
@zeeshandxb, Answers will come with time. Watch for timeline.
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Jun 24, 2019 05:08pm
I would really like to hear the government, for once, talk about how the billions already received are being spent, what’s the outcome, what has been reduced by the monies. I read more on what the government is spending on health cards and low cost housing, but aren’t be borrowing to bring relief to the financially drowning government and its expenses? Why burden it more ? No wonder people are upset, even millions who voted for PTI.
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Jun 24, 2019 05:11pm
@zeeshandxb, Too early to ask such questions.
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Jun 24, 2019 05:20pm
we would still need IMF then ??
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Jun 24, 2019 05:39pm
A friend in need is a friend indeed.
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Jun 24, 2019 05:45pm
Deposits and direct investments where?
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Jun 24, 2019 05:46pm
Many thanks to the rulers of Qatar.
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Jun 24, 2019 05:53pm
For this news only everyone is waiting, better than expected, IK will score 25Billion USD at record breaking speed. as of now 9.50 Billion USD Plus 3 USD Billions total 12.5 USD Billions)
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Jun 24, 2019 06:03pm
Intelligence investments wow what an achievement!!!!!
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Jun 24, 2019 06:09pm
It was said by some ministers that Sheikh of Qatar would announce 22 bn USD in investment but then we saw a couple of MOUs and nothing more than that. It is said, something is better than nothing, so I welcome this investment of 3 bn.
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Jun 24, 2019 06:20pm
It will go to defence.
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Jun 24, 2019 06:20pm
The honest government of Imran Khan is trusted by many foreign countries.
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Jun 24, 2019 06:20pm
Great news! The more investment dollars the better! Loans are debts nobody needs...
Gordon D. Walker
Canada
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Jun 24, 2019 06:21pm
What is break up of deposits and investment.If deposit what is interest rate that need to pay and if investment what would time line for same .
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Jun 24, 2019 06:26pm
Well done, let’s move on
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Jun 24, 2019 06:28pm
Before he landed it was $23 billion, now it is 3 billion!!
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Jun 24, 2019 06:33pm
@Gordon D. Walker, summarized so well
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Jun 24, 2019 06:34pm
@Anti-Corruption_Pakistani, jobs in which field ? And how many jobs ? And by when ?
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Jun 24, 2019 06:34pm
Good news
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Jun 24, 2019 06:35pm
@Zakir Ali Afghani, and dont forget $22 billion from Qatar
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Jun 24, 2019 06:36pm
This is the biggest achievement of Pakistan. Even better than winning the world cup 2019 !!!!! Now entire nation should focus on Economy & Education Please start imporving the education system and educate the new generation to make the nation corrupt free.. Will sure all will see the result in future years. Job well done by PM Khan !!!!
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Jun 24, 2019 06:41pm
@Dr. Salaria, Aamir Ahmad, and where are $22 billion gone - are $22 billion gone back to Qatar ?
And out of $3 billion how much is deposit and how much is investment and in which sector - could you search and find out for your own people and explain them.
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Jun 24, 2019 06:43pm
@Babbar, Are these the same guys who helped with the famous letter a few years back?
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Jun 24, 2019 06:49pm
What happened to that $22 billions investments? There were statements it s going to be bigger than Saudi investments.
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Jun 24, 2019 07:05pm
Join in with Shell or such companies and spend money to find GAS or oil
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Jun 24, 2019 07:10pm
@Babbar, Muslim brethren ??? What's that.
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Jun 24, 2019 07:16pm
Long live GCC! They will be protected always and always.
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Jun 24, 2019 07:18pm
Pakistan should have a national holiday to celebrate this great occasion.
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Jun 24, 2019 07:18pm
After the utilization of this loan next which friend?
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Jun 24, 2019 07:18pm
Where is the plan to pay back?
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Jun 24, 2019 07:26pm
3 billion dollar for Nawaz's release?
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Jun 24, 2019 07:27pm
It seems Nawaz Sharif is going to be released.
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Jun 24, 2019 07:31pm
Was Saudi Arabia and UAE approval sought for this partnership.
Qatar had invested in turkey and removed the money.
Be careful.
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Jun 24, 2019 07:37pm
There is no free lunch in this world. What we have committed in return - we will know after a few years
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Jun 24, 2019 07:42pm
Where did $ 3 Billion from Saudi Arabia + $ 3 Billion from UAE + $ 3 Billion from China go? How long will this $ 3 Billion last? Under what terms and with what expectations is all this money being borrowed and what is the plan for repayment?
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Jun 24, 2019 07:43pm
@zeeshandxb, Why is there generally negativity in posts? For once, can we at least try to appreciate the fact that foreign govts. are seeing Pakistan as a partner to invest. I am sure there are some strings attached but foreign reserves needs to be increased.
I do hope that this investment allows for more exports to helps with economy and hopefully lower the dollar exchange rate.
I understand your questions and they are valid questions to ensure transparency but positive mindset though it be a forum, inshaALLAH will go a long way.
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Jun 24, 2019 07:57pm
Good for Pakistan.
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Jun 24, 2019 07:59pm
IK is doing his best and his efforts should be appreciated by all in Pakistan. Hope he takes some time also to get more winners 8n his team.
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Jun 24, 2019 07:59pm
Then why did PM office announce investment of $22bn by Qatar prior to Emir's visit? Will they issue a rejoinder?
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Jun 24, 2019 08:03pm
PMIK promised $22 billion. Qatar is just quoting $9 billion.
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Jun 24, 2019 08:04pm
No details & just announcements by IK government. If so many billions are deposited by so many countries so why taking loans from IMF, World Bank & ADB?
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Jun 24, 2019 08:05pm
@zeeshandxb, No need to answer these questions, as every thing is not for public consumption. State craft is altogether a secluded arena where state to state relations are not shown as show pieces. Lets learn to live with in our own limits and do the duties which are expected from us before asking questions for non chartered waters. Hope you will nor take it as personnel but we need discipline in our lives.
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Jun 24, 2019 08:11pm
Why are we begging to each and every country for Money. What Happened to our CPEC.
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Jun 24, 2019 08:12pm
Because of the debt trap we are now reduced to a shrinking economy.
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Jun 24, 2019 08:13pm
Well done Prime Minister. You are moving in the right direction and your policies are working.
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Jun 24, 2019 08:14pm
@Uzair , I asked questions. Why are you bring judgemental?
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Jun 24, 2019 08:15pm
Amazing, ex-govt was importing Letters to save their Black money while this govt is importing investment.
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Jun 24, 2019 08:16pm
Amazing, ex-govt was importing Letters to save their Black money while this govt is importing investment.
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Jun 24, 2019 08:17pm
@M.Azad, we are paying these people to do this job.
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Jun 24, 2019 08:19pm
@Prateik,
Thank you Neighbor for keeping a keen eye on Pakistani affairs :)
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Jun 24, 2019 08:21pm
Now wings of development on Pakistan.
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Jun 24, 2019 08:28pm
adding more loans to pay loans.
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Jun 24, 2019 08:32pm
If all the pledges are met from Arabs then we would not need the IMF. would we?
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Jun 24, 2019 08:32pm
New loans , IMF 6, UAE 6, KSA 6, Qatar, China etc.You are to return them at a lower parity of the Rupee, is your countrymen conscious their debt is at least 40 % dearer than their cost of living, in other words out of each 1000 Rupees, he/se can forget 400 in devaluation alone and from the 600 , pay higher taxes, interest of the debt no less than 6 % , he / she better learn magic. Who and what do you really govern ? The misery ?
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Jun 24, 2019 08:34pm
Still waiting for loans that Pakistan would be giving after cpec and IK .
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Jun 24, 2019 08:39pm
@Older, "Amazing, ex-govt was importing Letters to save their Black money while this govt is importing investment."
I guess you have forgotten CPEC and the fact that the loadshedding was overcome by previous government. This government got $9.5 billion deposits and yet reserves are lower than when they started. Also, it is not due to paying the debt incurred by PML-N that reserves are dropping. If that were so, total outstanding loans would reduce - but they have not. The key is that this government has had negative exports despite significant depreciation. Similarly despite 11.5% nominal growth (8.2% inflation plus 3.3% real growth), the tax receipts are marginally lower. This means tax to GDP ratio is lower in this financial year for which PML-N cannot be blamed.
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Jun 24, 2019 08:41pm
@Prateik, "PMIK promised $22 billion. Qatar is just quoting $9 billion."
Not even $9 billion. Only $3 billion which is a combination of deposit and investments.
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Jun 24, 2019 08:43pm
@Just Saying, "Where did $ 3 Billion from Saudi Arabia + $ 3 Billion from UAE + $ 3 Billion from China go?"
$4.5 billion from China - $2 billion i July and $2.5 billion in March. UAE promised $3 billion but gave only $2 billion.
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Jun 24, 2019 08:48pm
@Rohail, "Good to hear that direct investment in Pakistan has been increased in IK leadership."
Actually FDI has reduced by 50% under Imran Khan as per economic survey published by your government.
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Jun 24, 2019 08:50pm
Check the figures. Daily times is reporting the direct investments as Qatari Rial 3 billio ($824 million) whereas you are reporting it as $3 billion instead of QR3 billion.
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Jun 24, 2019 08:54pm
@Babbar, why are you not matured self sufficient and independent of richer brothers ?
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Jun 24, 2019 09:03pm
@Safdar, "Then why did PM office announce investment of $22bn by Qatar prior to Emir's visit? Will they issue a rejoinder?"
Why did he announce oil find? Why did foreign office announce that PM Modi and foreign minister Jaishankar had written letters to request resumption of talks? Why did they announce that UAE would give $3 billion in deposit and $3 billion in deferred oil credits when in reality no oil credit is forthcoming from UAE and deposits are also only$2 billion?
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Jun 24, 2019 09:04pm
Any idea how much of it is investment? I would personally prefer investments as they would become active stakeholders in progress instead of deposits which is more like a hedge fund.
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Jun 24, 2019 09:16pm
Billions GRANTS from US for decades look so good now !!
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Jun 24, 2019 09:24pm
We got loan from ksa, uae ,china, malaisia, and now this money where all this money is going it is not making any impact.
And by the way when previous govt has good relation with qatar pti was saying it is for personal benifits.
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Jun 24, 2019 09:25pm
Culturally speaking it is better to have investment by Arab business houses than by the western private business houses.
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Jun 24, 2019 09:29pm
Pakistan is in this situation because we cannot export enough to make payment for imports, nothing to do much with the past loans, nobody cared about exports and the trend is still continuing. Instead of increasing exports, we are still going for loans that will make future situation even worse than we are in today. If governments are sincere then they should substantially reduce cost of production to facilitate export and also provide incentives to keep FC in the country. But all actions are opposite to this effort.
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Jun 24, 2019 09:43pm
@Asad Ahmed Khan,
IMF is needed to get more loans from other sources.
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Jun 24, 2019 09:47pm
@Zakir Ali Afghani, hey everything will happen in due time.
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Jun 24, 2019 09:50pm
@Sameer, in Zardari and Nawaz pocket.
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Jun 24, 2019 09:52pm
Perhaps Pakistan has now understood how difficult it is to earn a billion dollars and how easy it is to fritter it away.
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Jun 24, 2019 09:59pm
@MK Teri, frustration is understandable, but he is at least trying and not looting
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Jun 24, 2019 10:03pm
The figure 3B seems perfectly ok, but only the currency is different, it is in Irani Rial.
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Jun 24, 2019 10:17pm
It is satisfying to say that Arabs have already supported Pakistan economically without caring who rules it. Otherwise, Qataris were made fun by Mr. Imran Khan, during his protest movement, and if they had taken it seriously or personally, they would not have simply stayed away from supporting the government of IK We must thank S. Arabia, UAE and Qatar for helping Pakistan to overcome its economic woes.
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Jun 24, 2019 10:18pm
And celebration begins in Pakistan!!!
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Jun 24, 2019 10:22pm
@Zeeshandxb I wonder if zardari and nawaz told you all these financial details in their tenure and you are so worried at that time too??
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Jun 24, 2019 10:23pm
It is a good deed on part of Qatar and other rich Arab countries helping other Muslim nations, even though they may not be helping the Muslim refugees which are accepted by the non-Muslim western countries.
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Jun 24, 2019 10:28pm
Invest this money in industrialization and make pakistan a developed country ASAP
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Jun 24, 2019 10:39pm
This amount will be transferred to China as loan repayment next year. And then take money from SA to pay back Qatar.
This circle goes on.
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Jun 24, 2019 10:48pm
Good at getting donations, left, right and centre - but where does the money go ? Good performance - applaud now, but at the end what if it all turns out to be only a magic act, an illusion, a vanishing trick ?
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Jun 24, 2019 10:59pm
Hope new PTI leaders are not mindlessly borrowing from their brothers, otherwise it's going to blow up big not too far in future.
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Jun 24, 2019 11:03pm
Very happy to see that we are also evolving...
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Jun 24, 2019 11:06pm
This $3 billion will last a little over a month bared on our monthly budget deficit.
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Jun 24, 2019 11:14pm
@Laila - Very truly said about the brethren to brethren relationship between Pakistan and Middle East countries. I hold very similar views.
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Jun 24, 2019 11:19pm
@Dr. Salaria, Aamir Ahmad,
"A friend in need is a friend indeed."
You are absolutely correct sir, but that does not apply in International politics and Diplomacy, everybody has their own interests. .. What will I get in return..??
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Jun 24, 2019 11:24pm
PIA and steelmill takeover should have been discussed
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Jun 24, 2019 11:25pm
PIA and steel mill takeover should have been discussed
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Jun 24, 2019 11:30pm
The jet airways of countries
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Jun 24, 2019 11:42pm
Qatar rulers r the only Arab leaders paying Palestinian in millions of $$ in cash to be distributed among the people at the sum of 300$per head every month.
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Jun 24, 2019 11:47pm
It is not a FDI but its a loan on which we will have to give interest ! Once Information minister said truth on the TV that " Nothing is free in this world ". This amount of dollor will be gone with in 3 months. Then what's next ? From all the rich arab states we have taken Loan and that loan have gone in just 10 months ! This govt cannnot survive in next year , and that is for sure !!!
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Jun 24, 2019 11:49pm
I hope Pakistan will remember its friends.
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Jun 24, 2019 11:53pm
@Dr. Salaria, Aamir Ahmad, but here the friends needs are never ending..the friend will keep on needing help/ favors until drastic measure are taken /implemented in our country were milk and honey flows.
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Jun 24, 2019 11:55pm
Did not our government earlier talked about US$22 billion? And they referred to some letter from Qatar? What happened to that? Did they speak pre-maturely?
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Jun 25, 2019 12:07am
A friend in need is a friend indeed.
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Jun 25, 2019 12:07am
@bhaRAT©, So you dont find it strange that the Gulf and the rest of the Middle East in a globalized world with international exposure dont want to give their citizenship to foreigners? Except those who are elite. Yet the same people have no hangups obtaining foreign and even dual citizenships when migrating to the West. I cant ignore those blatant double standards. It is clear they want to protect their lineage and ethnicity when in fact Islam does not allow us to discriminate wrt. lineage, ethnicity, race, nationality, tribes or other.
This is relevant to Pakistanis as South Asian and thereby Pakistanis make up a huge part of the population and work force in the Gulf. I cant believe you just defended exclusionist and deeply racist attitudes from people, who should know better and who have no moral hangups exploiting poor pakistani workers in particular. How about having inclusionist and humane laws minus discrimination?
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Jun 25, 2019 12:32am
Stop taking loans and additional debt. The only solution is to collect more taxes and reduce spending. For some reason Pakistan is collecting even less as a % of GDP than the PML-N. And defense spending continues unabated. And paying ever increasing pensions to retired defense staff is contributing to your safety how exactly?
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Jun 25, 2019 12:52am
So that's the price for highest civilian honour?
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Jun 25, 2019 01:09am
All these are temporary measures and don't really mean any real benefits for Pakistan and the common Pakistani people. Deposits and investments are made by investors for the sake of returns/profits on investments. Investors want to squeeze out each maximum penny and eventually repatriate all their profits back to their own home countries, in foreign exchange. So, over a long term, more foreign exchange will be leaving the country than coming in. In addition only rich Pakistani businessmen who are partnered with foreign investors will be making money locally, the meagre salaries and conditions of labourers and other common people will not change one bit, they will be equally exploited by all; and it's highly doubtful that real benefits will reach other, ordinary Pakistan citizens either. Only increased industrial production and business and more profitable global trade can possibly offer a better premise for the masses , in time. This government cannot comprehend this.
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Jun 25, 2019 01:12am
@Zakir Ali Afghani, you are very right. We need to have clear and open public accountability of all funds taken, borrowed or earned by the government over the last 10-11 months. Every penny must be fully accounted for.
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Jun 25, 2019 01:18am
@desi dimag, right. Many people are saying that it's no real investment, Qataris are only (indirectly) buying arms and weapons from us with this money. Actually all these planes, tanks, weapons etc are of Chinese manufacture but assembled in Pakistan and shown as 'Pakistani ' to avoid USA trade barriers. The real money will be going (via Pakistan) to China, we will get a small commission on each deal with the rich Arabs and others. Get it?
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Jun 25, 2019 01:28am
So no $22 billion?
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Jun 25, 2019 02:01am
Now we are talking. Thank You, Brother Qatar, for the Khairat.
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Jun 25, 2019 02:02am
@zeeshandxb, Don't worry about it. Enjoy the Khairat befoer the politicians send all of it in their foreign accounts.
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Jun 25, 2019 02:05am
@Zakir Ali Afghani, TRUE on both counts.
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Jun 25, 2019 02:15am
@Tripat, Very true.
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Jun 25, 2019 02:37am
Please give me loans. I need to repay my master.
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Jun 25, 2019 03:22am
worlds most expensive driver
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Jun 25, 2019 05:00am
@Prateik, Can you help me find where US$22 bn was mentioned by IK?
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Jun 25, 2019 06:01am
We always get the news about borrowing from the Islamic Republic governments since many years. This time $60 billion from China, 20+ from Saudi Arabia, 20+ from tiny Qatar , 7 from IMF along with orders how to manage our economy, but never on the production, revenue increase from export and tax collection, building of the infra-structure. I just returned to Karachi after staying out of Pakistan for 3 months. The road, Nishtar road in Garden area of Karachi, still looks in the same miserable condition as I left, as a matter of fact this road has been the same mess for more than a year. Should not the minister for the roads in Sindh Government be hanged for his inappropriate handling of the ministry.
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Jun 25, 2019 06:16am
Pakistan should change its name to Beggistan or Bhikmangestan
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Jun 25, 2019 06:44am
Actually today is the Eid and diwali of Pakistan.
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Jun 25, 2019 06:44am
Another begging bowl ... Grow up Pakistan . Cut your military expenditures and curtail corruption. Half of your financial problems will resolve
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Jun 25, 2019 06:46am
Reduce expenses including defence that is only solution. Put money in education and population control. in 5 years things will change and all these business initiatives will be visible in public status lift.
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Jun 25, 2019 06:52am
nuclear armed pakistan receiving donations from tiny countries.......and we pakistanis are feeling proud of these donations.
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Jun 25, 2019 06:58am
MOUs are just MOUs. So many have been signed between Pakistan and other countries but is anyone keeping track of how many have materialized? Perhaps they increase the value of our rupee.
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Jun 25, 2019 06:59am
hooked on loans like never before ....
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Jun 25, 2019 07:02am
reduce defence expenses from 11 B to 5 or6 b and add all these business initiatives then only you have positive case else all will be sucked by higher expenses then revenue reciepts. it’s simple accounting. if revenue is plus side then it will lift currency as well which will further improve debt payment situation. So only solution reduce defence expenses by 50% now else later you will not have money and it will get reduced without any positive benefits
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Jun 25, 2019 07:25am
President Trump has really hit pakistan where it hurts -- ever since President Trump closed the U.S. Dollar flows faucet from U.S. every year, pakistan has been running pillar to pillar just to make ends meet.
pakistan should have been much more thankful and appreciative of the U.S. than it was/ still is.
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Jun 25, 2019 07:28am
This is all fine. I came to know about Althanis when one Rashid Althani was my student. He was very polite, hard working and never hesitated to learn and ask question when he did not follow. He did very well in the class. He even dressed like an average student. Only later I learned tha Rashid was. Member of the ruling family. He never told me anything about his family, nor did I asked him. Later from others I learned more about him. A very decent man. Hopefully Pakistan will develop economic ties with Qatar for the benefit of both countries.
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Jun 25, 2019 07:38am
@Laila, It is a small country. No foreigners get Qatari citizenship. Not just restricted to Pakistanis. If they allowed foreigners to get local citizenship, qataris by now would have become minority in their own country.
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Jun 25, 2019 07:38am
Pakistan should not pursue IMF loans when it can get $3B from Qatar. Maybe they need to ask for the equivalent in LNG for free
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Jun 25, 2019 07:43am
Every week there is a news of having more loans or friendly deposits of dollars from friends. What kind of fun is this country is orchestrating to impress their own people that we are successful anyways.
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Jun 25, 2019 07:45am
It sounds like good news that Qatar is making $3 billion dollars worth of new investments in Pakistan, in the form of deposits and direct investments. Indeed it ounds good. Doesn’t it?
Given that it is good news for improvement in the Pakistan current account deficit, how come it has no positive impact on the value of the Pak Rupee; the dollar exchange rate still stands at 156.70 Pak Rupees – it is worse than a week ago.
What are the details of Qatar investments? How much is direct deposits and how much is investment? What field/projects they are investing in?
Perhaps the positive impact on the Rupee value awaits the details of the Qatar deposits and investments. How soon do we expect to see those details, officially, in the media?
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Jun 25, 2019 07:47am
There was a starving dog in the street. A passer by threw a biscuit at it, it ate it quickly and started looking for more. Next passer by threw another biscuit, it did the same. Then next passerby, next and next. Then dog thought I have to do something for the people who threw the biscuits so that I can ask for more biscuits. The dog offered them to drive them around on its back when they visit dogs place and lick their boots... story continues for decades. Dog is happy and celebrating whenever it gets a free biscuit without hardwork.
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Jun 25, 2019 07:52am
Rice bowl of the world: Indonesia
Sugar bowl of the world: Cuba
Begging bowl of the world: any guesses?
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Jun 25, 2019 08:26am
Sounds like a new.loan
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Jun 25, 2019 08:41am
Keep the money coming, we are never going to pay it back anyways...
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Jun 25, 2019 08:42am
Now iron brother is really in worry, how to recover at least principle amount USD60B, everyone will claim for every inch.
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Jun 25, 2019 09:37am
Saudi Oil company is already agreed to invest in India worth $44B. It is not mou. Already work started.
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Jun 25, 2019 11:08am
They come for Pakistani women just like Saudis and Chinese.
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Jun 25, 2019 11:55am
@Ninza, Yes, of course. But government has formed a commission to investigate his such achievements during PPP government. Isn't that funny?
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Jun 25, 2019 01:30pm
@joe, "This amount will be transferred to China as loan repayment next year. And then take money from SA to pay back Qatar. This circle goes on." So what's the problem, if it really goes on eternally?
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Jun 25, 2019 04:47pm
@Laila,
You were talking about why no citizenship to just Pakistanis; not citizenship to foreigners. There is a difference. Good that you got it now.
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Jun 25, 2019 05:13pm
@Simba, Not a nice thing to say. And, nobody can ask for the biscuit that has been consumed and can't be returned. So, who is smart? Only fools and horses work goes the saying.
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Jun 25, 2019 05:18pm
@boyscout, Please don't type in Queen's English. Please use common English sir.
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Jun 25, 2019 05:53pm
@Laila,
You were talking about why no citizenship to just Pakistanis; not citizenship to foreigners.
There is a difference.
Good that you got it now.
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Jun 25, 2019 07:59pm
It is a pure fixed term deposit with interest to be paid on maturity. Direct investments are normally in a company or a project which depends on progress of project Purchase of shares of a company can also be called as direct investment.
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Jun 25, 2019 09:12pm
Taking money from Qatar will surely upset UAE and Saudi Arabia.... how is the foreign ministry planning to handle the situation???
Also what is the interest rate and would the country be still able to service the same is another damn question
I guess in these conditions, Loans are good but repayment is optional
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Jun 25, 2019 10:32pm
How come no one is pointing out that all these deposits have to be returned eventually that too along with the interest.
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Jun 25, 2019 11:06pm
The day is not far when Bangladesh will announce economic aid to help Pakistan survive the un-ending financial crisis.
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