Didn't visit KSA for aid but invited them for investment: Ghulam Sarwar
The minister says country needs four or five oil refineries
ISLAMABAD (Dunya News) – Federal Minister for Petroleum Ghulam Sarwar Khan on Thursday said that the Pakistani delegation led by Prime Minister Imran Khan didn’t visit Riyadh for aid but invited them for investment.
Addressing a press conference along with Minister for Information Fawad Chaudhry after Federal Cabinet meeting in Islamabad on Thursday, he said that the country needs four or five oil refineries and the PTI government was ready to welcome any country for investment in this regard.
He went on to say that Pakistan and Saudi Arabia have agreed to set up a state-of-the-art oil refinery in Gwadar, adding the cabinet has approved a Memorandum of Understanding (MoU) between Pakistan and Saudi Arabia in this regard.
“The MoU is expected to be signed when Saudi Energy Minister would visit Pakistan at the end of this month or beginning of the next month,” he added. He said cost and capacity of the refinery have not yet been finalized.
The minister said: “Pakistan has also offered several other important projects to Saudi Arabia for investment and Riyadh has promised to consider these proposals. They include North South and South North pipelines and exploration of oil and gas in different parts of the country.”
“Saudi Arabia had also expressed keen interest in investing in different sectors of Pakistan s economy during recent visit of Prime Minister Imran Khan to Riyadh,” Ghulam Sarwar said.
He said a delegation from UAE would also be visiting Pakistan to explore prospects of investment in Pakistan.
