KARACHI: Pakistani officials say they are still pursuing $5 billion in Qatari investment after speculation emerged last month that the commitment was diverted by the Gulf state to Bangladesh.
In 2019, a delegation from Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), headed by Sheikh Faisal bin Thani Al-Thani, visited Pakistan to explore investment opportunities and expressed interest in various sectors, including energy, tourism and airport management.
According to Haroon Sharif, former chairman of Pakistan’s Board of Investment, the QIA’s first bid was two regasified liquefied natural gas (RLNG) power plants worth an estimated $3 billion to $4 billion. The second bid was for upgrading three Pakistani airports, worth between $1 billion and $2 billion, but the project would require changes to the aviation ministry’s structure for Qataris to become airport shareholders. Another area of investment was the hospitality sector.
Despite framework agreements, however, no tangible progress has been seen on the projects since the 2019 visit. As reports emerged last month of a major Qatari deal with Bangladesh, speculation arose that the Qatari investments planned in Pakistan had been diverted there.
In late April, Nebras Power, a Qatari power development and investment company headed by Al-Thani, announced it had signed a sale and purchase agreement (SPA) with Unique Hotel and Resorts Limited (UHRL) — a sister company of Bangladeshi diversified conglomerate Unique Group — and investment bank Strategic Finance Limited (SFL) to acquire a 24 percent equity stake in Unique Group’s power plant project, Unique Meghnaghat Power Limited (UMPL) located south of Dhaka.
While Pakistani media suggested that the Qatari-Bangladeshi deal meant Pakistan had lost the planned investment, officials say the conclusion is a “misconception.”
“Qatar is still interested to invest in projects that fall under energy, aviation and privatization ministries including RLNG power plants, airport upgradation and hotel management,” Aliya Hamza Malik, Parliamentary Secretary for Textile, Commerce, Industries and Production, and Board of Investment, told Arab News on Saturday.
“This is misconception that investment commitments have been diverted to another country, even Bangladesh,” she said. “Pakistan is still pursuing with Qatar for the committed investment.”
Malik added that three memoranda of understanding were signed by Qatar with different Pakistani ministries for the planned investment.
“I have checked with all the ministries if they got shifted to other country, not even to Bangladesh, and the response was that privatization commission and foreign office are continuously perusing with Qatar the investment matters.”
Sharif, however, was less optimistic.
“If the ministers do not make the project as their priority, things would not move forward,” he said. “Investors have many markets opened before them and they can’t continue waiting for you for longer period.”
Pakistan denies $5 billion Qatari investment diverted to Bangladesh
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Pakistan denies $5 billion Qatari investment diverted to Bangladesh
- During a 2019 visit, Qatar’s sovereign wealth fund expressed interest to invest in two Pakistani power plants and three airports
- While no tangible progress has been seen on the projects, Qatar last month signed a major deal with Bangladeshi conglomerate Unique Group
Pakistan says repaid over $13.06 billion domestic debt early in last 14 months
- Finance adviser says repayment shows “decisive shift” toward fiscal discipline, responsible economic management
- Says Pakistan’s total public debt has declined from over $286.6 billion in June 2025 to $284.7 billion in November 2025
KARACHI: Pakistan has repaid Rs3,650 billion [$13.06 billion] in domestic debt before time during the last 14 months, Adviser to the Finance Minister Khurram Schehzad said on Thursday, adding that the achievement reflected a shift in the country’s approach toward fiscal discipline.
Schehzad said Pakistan has been repaying its debt before maturity, owed to the market as well as the State Bank of Pakistan (SBP), since December 2024. He said the government had repaid the central bank Rs300 billion [$1.08 billion] in its latest repayment on Thursday.
“This landmark achievement reflects a decisive shift toward fiscal discipline, credibility, and responsible economic management,” Schehzad wrote on social media platform X.
Giving a breakdown of what he said was Pakistan’s “early debt retirement journey,” the finance official said Pakistan retired Rs1,000 billion [$3.576 billion] in December 2024, Rs500 billion [$1.78 billion] in June 2025, Rs1,160 billion [$4.150 billion] in August 2025, Rs200 billion [$715 million] in October 2025, Rs494 billion [$1.76 billion] in December 2025 and $1.08 billion in January 2026.
He said with the latest debt repaid today, the July to January period of fiscal year 2026 alone recorded Rs2,150 billion [$7.69 billion] in early retirement, which was 44 percent higher than the debt retired in FY25.
He said of the total early repayments, the government has repaid 65 percent of the central bank’s debt, 30 percent of the treasury bills debt and five percent of the Pakistan Investment Bonds (PIBs) debt.
The official said Pakistan’s total public debt has declined from over Rs 80.5 trillion [$286.6 billion] in June 2025 to Rs80 trillion [$284.7 billion] in November 2025.
“Crucially, Pakistan’s debt-to-GDP ratio, around 74 percent in FY22, has declined to around 70 percent, reflecting a broader strengthening of fiscal fundamentals alongside disciplined debt management,” Schehzad wrote.
Pakistan’s government has said the country’s fragile economy is on an upward trajectory. The South Asian country has been trying to navigate a tricky path to economic recovery under a $7 billion loan from the International Monetary Fund.
