Saudi Aramco desires to establish oil refinery in Gwadar: Qureshi

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi on Friday said that the federal government was formulating strategies to alleviate creation of opportunities for businesses and foreign investments, ARY News reported.

Shah Mehmood Qureshi, while was addressing the Investment Conference in Islamabad, said that foreign investments will be beneficial for stabilisation of national economy besides creating employment and remittances. “There is a need to promote investment and trade,” he said.

The foreign minister highlighted various sectors which would be enhanced to bring betterment in the economy by facilitating foreign investors and businesspersons.

He assured that the exchange of modern technology will be made possible on easy terms. He added that the tourism sector will also play an important role in economic betterment, however, developing countries will definitely need the cooperation of developed nation to meet its targets.

Pakistan is enhancing its industrial sector with Chinese assistance, Qureshi said

“We are moving in the right direction following the vision of Prime Minister [Imran Khan]. The Foreign Ministry is also taking steps for amelioration of economy on diplomatic fronts. Improvements are seen in different sectors in first nine months of the present government,” Qureshi said.

He said that integrated coordination between all institutions was inevitable in the stabilisation of economy.

“Pakistan and China have agreed for initiation of the second phase of China-Pakistan Economic Corridor (CPEC) project. We are enhancing our industrial sector with Chinese assistance in future, whereas, both countries agreed to formulate a Free Trade Agreement (FTA) which would focus on enhancing Pakistan’s industries.”

Saudi Aramco wants to establish an oil refinery in Gwadar, said the minister

“The government has taken major steps to bring positive changes in the economy with the support of Saudi Arabia and other countries. Saudi Aramco wants to establish an oil refinery in Gwadar, moreover, Malaysian Prime Minister had expressed his interest in various sectors in Pakistan during his visit.”

While spotlighting on major steps taken for promotion of tourism, Qureshi said, “Pakistan is providing E-Visa facility to tourists besides provision of other facilities.”

The foreign minister reiterated that Islamabad desires longstanding peace in Afghanistan and it is also playing its part in the peace process.

He said that India was consistently increasing tensions in the region, however, Pakistan exhibited its responsibility as a responsible state. He added that the opening of Kartapur Corridor was a positive step from Pakistan.