Islamabad (TDI): Prime Minister Shehbaz Sharif has informed the federal cabinet that Qatar and Azerbaijan have pledged a combined investment of $5 billion across Pakistan’s energy, minerals, and IT sectors.
In his address to the cabinet, the Prime Minister outlined productive meetings with leaders from Saudi Arabia and Qatar, discussing collaboration in solar energy, mining, and IT.
He shared that Qatar Investment Authority (QIA) is set to inject $3 billion, with a QIA delegation expected in Pakistan soon.
Furthering the development agenda, Prime Minister Shehbaz said that Saudi Crown Prince Mohammed bin Salman expressed interest in recruiting IT-skilled workers from Pakistan, highlighting the growing demand for tech professionals in Saudi Arabia.
Qatar’s Emir also indicated plans to establish an IT park in Pakistan, strengthening digital collaboration between the two nations.
On relations with Azerbaijan, PM Shehbaz shared that recent agreements with President Ilham Aliyev’s administration aim to boost bilateral investment to $2 billion across diverse sectors.
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He noted these commitments follow agreements and MoUs signed during President Aliyev’s visit.
The Prime Minister also briefed the cabinet on economic improvements, citing the recent 250-basis-point policy rate cut by the State Bank of Pakistan, which lowers the interest rate to 15 percent.
He expects this reduction to stimulate business, bolster exports, and create jobs.
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Highlighting the government’s anti-inflation efforts, he claimed inflation has dropped from 38% to 7%, pointing to renewed economic stability.
Additionally, PM Shehbaz commended the PML-N Parliamentary Party for prioritizing national interests over politics, attributing the stabilization to the party’s dedication and efforts to thwart destabilizing forces.
PM’s Visit to Saudi Arabia
He also reflected on his recent visit to Saudi Arabia, where he participated in the Future Investment Initiative and held substantial talks with Crown Prince Mohammed bin Salman.
PM Shehbaz said the discussions opened new avenues for economic collaboration, with Saudi investments expected to rise from $2.2 billion to $2.8 billion, signaling strengthened ties and continued support for Pakistan’s economic growth.
