ISLAMABAD: The federal cabinet discussed a six-point agenda in a meeting chaired by Prime Minister Imran Khan on Thursday.
Information Minister Fawad Chaudhry while briefing the media along with Petroleum Minister Ghulam Sarwar after the cabinet meeting said, “The cabinet gave approval for the agreements discussed between Pakistan and Saudi Arabia during a visit of the Kingdom’s delegation last week.”
An approval has been accorded for the construction of an oil refinery in Gwadar, he added.
The information minister elaborated, “Saudi Arabia will make an investment of Rs30 billion in Pakistan pertaining to the discovery of oil and gas.”
To this, Petroleum Minister Ghulam Sarwar added saying, “Saudi Arabia is interested in Gwadar and the China-Pakistan Economic Corridor and has expressed the desire to immediately invest in an oil refinery.”
“It has been agreed that it will be a government to government (G2G) agreement,” Sarwar further added. “Saudi Arabia’s minister of energy will visit Islamabad next month,” he further said while adding that the volume and other details are yet to be decided.
“At the time of the agreements, provincial governments will also be taken into confidence,” the petroleum minister assured.