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Pakistan set to receive $2 billion from Qatar to ease funding crunch

The South Asian nation will also get $1 billion in oil financing from Saudi Arabia and a similar amount in investments from the UAE

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Pakistan's national flag flatters during a ceremony to celebrate Pakistan's 75th Independence Day, at the Mausoleum of Muhammad Ali Jinnah in Karachi (Photo: Reuters)

Bloomberg
Pakistan will receive $2 billion from Qatar in bilateral support to help ease the South Asian nation’s funding crunch and the consequent risk of a default. 

The South Asian nation will also get $1 billion in oil financing from Saudi Arabia and a similar amount in investments from the UAE. All the funds are expected over twelve months, Murtaza Syed, acting governor at the State Bank of Pakistan said in a briefing. Pakistan Prime Minister Shehbaz Sharif is visiting Qatar on August 23 and 24. An announcement of the assistance may or may not be announced during the trip, Syed said. 

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First Published: Aug 23 2022 | 10:59 PM IST

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