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ISLAMABAD: Pakistan and Qatar have signed a protocol that commits both nations to realize Doha’s $3 billion investment in Pakistan’s key sectors, the economic affairs ministry said in a statement on Thursday, amid Islamabad’s efforts to attract foreign funding to stabilize its economy. 

The development took place during the sixth session of the two-day Pakistan-Qatar Joint Ministerial Commission (JMC) on economic, trade and technical cooperation between the two countries. The Qatari emir’s office said in 2022 that the Qatar Investment Authority aims to invest $3 billion in Pakistan to support the South Asian nation’s cash-strapped economy. Qatar’s investment will focus on Pakistan’s transport, civil aviation, education, health, culture, media, communications, information technology and labor sectors.

The agreement was signed between Pakistan’s Commerce Minister Jam Kamal Khan and his Qatari counterpart, Sheikh Faisal bin Thani bin Faisal Al Thani, during the JMC meeting, the economic affairs ministry said. 

“In the realm of trade, economy and investment, the signed protocol commits both nations to realizing His Highness the Emir of Qatar’s vision of investing $3 billion in Pakistan through the Qatar Investment Authority or other investment vehicles,” the Pakistani ministry said.

Both sides agreed to enhance direct coordination between Pakistan’s Special Investment Facilitation Council— a government body formed in June 2023 to fast-track decisions related to international investment in Pakistan— and the Qatar Investment Authority, to create a more conducive environment for Qatari investors.

As per the signed protocol, Qatar will enhance cooperation in Pakistan’s public transport system including rail, bus and metro networks and support the adoption of electric vehicles in the country. Pakistan and Qatar’s aviation authorities will also meet early next year to further strengthen cooperation, it added.

The statement said the agreement also included a memorandum of understanding between Pakistan and Qatar’s education ministries to enhance technical skills development.

It highlighted the need to form a joint working committee to attract Pakistani medical professionals to Qatar’s Hamad Medical Corporation and promote the exchange of health expertise between the two countries.

“They also provide for exploring the mutual recognition of pharmaceuticals and medical instruments to facilitate market access,” the ministry said.

It also included news exchange agreements between state-run entities Qatar News Agency and the Associated Press of Pakistan for joint documentary and drama productions, along with cultural program exchanges with Pakistan Broadcasting Cooperation and Qatar Radio.

The agreement called for stronger cooperation in e-government, smart cities, digital economy and transformation in the communication and IT sector.

In the labor sector, it urged sending skilled Pakistani workers to Qatar and fast-tracking a new MoU on labor cooperation.

Pakistan shares cordial ties with Qatar rooted in economic cooperation, defense, shared values, faith and culture. Qatar hosts a large Pakistani workforce and this month facilitated dialogue that resulted in a ceasefire with Afghanistan after border skirmishes.

ISLAMABAD: Pakistan and the United Nations have agreed to launch a joint project to curb illegal activities harming the environment and the economy, state media reported on Thursday, as Islamabad finds ways to mitigate future disasters brought about by climate change. 

A deadly monsoon season since late June that saw torrential rains and the melting of glaciers killed over 1,000 people across Pakistan. Over 22,000 livestock were killed and 2.2 million acres of crops were washed away, according to the National Disaster Management Authority (NDMA). Experts have linked Pakistan’s frequent and irregular weather patterns to climate change effects. 

Pakistan’s Climate Change Minister Musadik Malik met Troels Vester, the country representative of the UN Office on Drugs and Crime (UNODC) in Islamabad to discuss matters related to the environment and the economy, state broadcaster Radio Pakistan reported. 

“Both sides agreed to develop a joint project aimed at improving inter-agency coordination and modernizing laws and enforcement mechanisms to curb illegal activities impacting the environment and economy,” the state media said. 

Vester acknowledged Pakistan’s commitment to addressing environmental crimes and reaffirmed UNODC’s full support in this area, Radio Pakistan said. 

According to the UN Interregional Crime and Justice Research Institute, environmental crimes encompass a broad list of illicit activities, including illegal trade in wildlife, smuggling of ozone-depleting substances (ODS); illicit trade of hazardous waste; illegal, unregulated, and unreported fishing; and illegal logging and trade in timber. 

Pakistan has stepped up efforts in recent years to tackle environmental crimes through stronger legislation, institutional reforms and international cooperation. The government has launched drives against illegal logging, wildlife trafficking and industrial pollution, while provincial environment agencies have stepped up inspections and launched tree plantation drives. 

Pakistan has also introduced the National Clean Air Policy, tightened penalties under the Pakistan Environmental Protection Act and adopted digital systems to monitor emissions and waste. 

Despite contributing less than 1 percent to global greenhouse gas emissions, Pakistan is considered one of the worst affected countries due to climate change. The South Asian country has suffered from heatwaves, droughts, torrential rains and floods over the past recent years. 

Experts warn unless the government takes preventive measures, climate change effects in Pakistan can intensify in the coming years.