Qatar would invest $3 billion in Pakistan, Information Minister Attaullah Tarar said on Friday after Prime Minister Shehbaz Sharif concluded his visit to the Gulf country where he wooed investors.

“This investment is expected to bolster Pakistan’s economic growth further,” he said at a press conference in Islamabad. Tarar accompanied the premier to the country during the two-day visit.

A joint statement on the premier’s visit to Qatar did not mention anything. The Arab country has also not mentioned any such thing.

On Thursday, Prime Minister Shehbaz Sharif engaged in a “very extensive and productive” meeting with his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani. The premier encouraged Qatari investors to explore various sectors of Pakistan’s economy.

In addition to his discussions with the PM, he met with the emir of Qatar and visited the ‘Manzar’ art gallery, which features works by Pakistani artists.

He also met with a delegation from the Qatar Business Association to discuss enhancing economic relations and identifying new opportunities for collaboration.

According to the information minister, Qatar would invest in energy, minerals, and IT sectors, with a Qatari delegation expected to visit the country soon.

Tarar claimed that the country’s economy was on a path of development, with inflation at 6.9%. He also noted that Pakistan has entered a fiscal surplus for the first time in 24 years and record remittances have been received in the country.

Tarar also mentioned that there has been a reduction in interest rates. “Pakistan’s standing on the international stage has improved,” he said, “friendly countries are actively investing in Pakistan.”

While speaking about the exhibition in Qatar, the information minister said that Pakistani artists and painters to showcase their work. Visitors from around the world praised the Pakistani artworks displayed at the exhibition, he added.

Qatar, Pakistan to continue exchange of high-level visits

The meeting between the premier and Qatar emir “focused on strengthening bilateral relations between the two brotherly countries, with a particular emphasis on investment and trade, alongside discussions on cooperation in other fields,” according to a joint statement.

The two sides discussed opportunities in a “number of fields in Pakistan in the context of previous investment pledges.”

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Qatar’s Emir Sheikh Tamim bin Hamad Al Thani stressed the importance of fraternal relations between the two countries and the two sides’ aspiration to enhance economic partnership, increase trade exchange, and promote investments.

Prime Minister and Minister of Foreign Affairs of Qatar Sheikh Mohammed bin Abdulrahman Al Thani stressed the importance of Pakistan as a “strategic partner” in the region. He expressed the Qatari side’s commitment to “deepen bilateral economic ties” to serve the common interests of the two countries.

PM Shehbaz praised Qatar’s diplomatic efforts and humanitarian initiatives to promote peace in the region.

The two sides “agreed on the importance of continued exchange of high-level visits to enhance mutual understanding, deepen cooperation, and explore new horizons.”