Qatar’s Al-Thani Group Signals Port Qasim Stake Divestment as Pakistan’s FDI Crisis Deepens

Qatar’s Al-Thani Group has signaled its intent to divest its 49% stake in the $2.09 billion, 1,320-megawatt Port Qasim coal-fired power plant, as Pakistan’s foreign direct investment (FDI) woes deepen and multinational companies continue to exit the market. The Port Qasim Power Project, a flagship initiative under the China,, Pakistan Economic Corridor (CPEC), was jointly developed by Al-Mirqab Capital, representing the Al-Thani family, and China’s Power Construction Corporation. The Qatari group invested over $1 billion in the project, which comprises two 660 MW supercritical coal units near Karachi. The planned exit comes amid mounting frustration over chronic payment delays by Pakistan’s Central Power Purchasing Agency (CPPA-G), which owes independent power producers (IPPs) an estimated Rs. 400 billion, reported Business Recorder. The Port Qasim Electric Power Company (PQEPC) has warned the government of a possible suspension of operations if outstanding dues are not settled, raising concerns about power supply stability and sovereign guarantees. Last year, former Qatari Prime Minister Sheikh Hamad Bin Jassim Bin Jaber Al Thani wrote to Pakistan’s leadership seeking payment of $450 million owed to PQEPC. Despite high-level intervention, the dues remain unpaid. Al-Mirqab Capital has now formally notified Pakistani authorities of its intent to divest, with official report confirming that all future coordination will proceed through established diplomatic channels. Pakistan’s investment climate has deteriorated sharply, with nine multinational companies, including Pfizer, Sanofi, Eli Lilly, Procter & Gamble, Shell, Total, Telenor, and Uber/Careem, exiting or divesting from the country in the past four years.