Saudi Arabian energy minister to sign MoU on establishing oil refinery in Pakistan

ISLAMABAD: Saudi Arabian Minister for Energy Khalid Al Falih will soon visit Pakistan to sign Memorandum of Understanding (MoU) on establishing an oil refinery in Pakistan, apart from finalising other major projects in which Saudi Arabia has shown interest.

It was revealed here on Tuesday by Saudi Arabian Ambassador to Pakistan Nawaf Bin Said Al-Malkiy, who paid a courtesy call on President Dr Arif Alvi in Islamabad.

Welcoming the ambassador the president underlined the close, cordial and brotherly relations that exist between Saudi Arabia and Pakistan and highlighted different areas of economy where Saudi Arabian investors can invest.

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Arif Alvi in particular stressed that there was a need for exchange of more business delegations between the two countries. He said that the ambassador could play a critical role in increasing the bilateral trade.

The president lauded role of Pakistan’s Armed Forces for defeating terrorism in the country which had resulted in establishment of durable peace in the country and revival of its economy.

The Saudi Arabian ambassador briefed him on two recent visits of Prime Minister Imran Khan to Saudi Arabia and said that they had been very successful resulting in enhanced and multi-faceted economic cooperation between the two countries.

He appreciated the peace and stability prevalent in Pakistan and steps taken by the government to invite foreign investors to invest in various sectors of economy.