Pakistan on Saturday received the first tranche of USD 500 million from Qatar under the USD 3 billion package consisting of a foreign currency deposit and direct investment to help boost the country\u2019s dwindling foreign-exchange reserves, according to a media report on Sunday.<\/p>\n\n\n\n
The first tranche deposited with the State Bank of Pakistan will help boost Pakistan\u2019s dwindling foreign-exchange reserves.The gas-rich nation last week announced that it would invest USD 3 billion in the form of deposits and direct investments after Qatar\u2019s Emir Sheikh Tamim Bin Hamad Al Thani visited Islamabad.<\/p>\n\n\n\n
Qatar has not given the details of the USD 3 billion aid, but it signed three memoranda of understanding (MoUs) with Pakistan during the two-day visit of the Qatari Emir to Islamabad last week.<\/p>\n\n\n\n
Qatar has emerged as the fourth country to having extended a financial assistance package at times when Islamabad is facing an acute shortage of dollars.<\/p>\n\n\n\n
State Bank of Pakistan\u2019s chief spokesman Abid Qamar told Dawn that a deposit of USD 500 million had been received from Qatar.The Qatari foreign ministry said that with the new USD 3 billion investment package the size of the Qatari-Pakistani economic partnership will amount to USD 9 billion.<\/p>\n\n\n\n
However, heavy import payments and debt repayments did not let the foreign currency reserves stabilise mainly due to sluggish exports.<\/p>\n\n\n\n
The foreign reserves have depleted to six-month low at USD 7.28 billion in the week ended June 21, 2019, as per SBP latest updates on Thursday, which are just USD 700 million higher than almost five-year low at USD 6.63 billion recorded in the week ended on January 18, 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan on Saturday received the first tranche of USD 500 million from Qatar under the USD 3 billion package consisting of a foreign currency deposit and direct investment to help boost the country\u2019s dwindling foreign-exchange reserves, according to a media report on Sunday. The first tranche deposited with the State Bank of Pakistan will help […]<\/p>\n","protected":false},"author":1,"featured_media":64968,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-64967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/64967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=64967"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/64967\/revisions"}],"predecessor-version":[{"id":64969,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/64967\/revisions\/64969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/64968"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=64967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=64967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=64967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}