No talks with Qatar on purchase of Roosevelt Hotel and PIA: Miftah

Government of PakistanNo talks with Qatar on purchase of Roosevelt Hotel and PIA: Miftah

ISLAMABAD, Pakistan: The Finance Minister Miftah Ismail rejected speculations of purchase of Roosevelt Hotel and Pakistan International Airlines (PIA) by Qatar, saying that there have been no talks in this regard.

While addressing a news conference in Islamabad on Friday, the finance minister clarified that Qatar has evinced interest in the long-term lease and management control of airports and construction of some facility at seaport.


The finance minister termed as encouraging Qatar’s decision of investing at least US$ 3 billion in Pakistan. He said that Qatar has also shown interest in the liquefied natural gas (LNG) plants and solar power projects. He added that Qatar may also invest in the stock market.

Miftah Ismail said that Pakistan intends to install solar power projects of 8,000 megawatts which will help bring down the prices of electricity.

The minister said that United Arab Emirates (UAE) will invest US$ 1 billion in Pakistan while Saudi Arabia will provide oil worth US$ 1 billion on deferred payment.

Alluding to the relief extended by the government to the power consumers using up to 200 units, the finance minister clarified that those who have not yet paid the electricity bills will be issued with corrected ones without fuel price adjustment. He said that those who already have paid the bills, the adjustment will be made in September bills.

The finance minister said that Prime Minister Shahbaz Sharif has also constituted a committee to consider as to how the consumers using between 200 and 300 units can be facilitated.

Miftah Ismail said that Pakistan has fulfilled all the requirements of the International Monetary Fund (IMF) and the Country will receive the next tranche after its board meeting on Monday.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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