Saudi Energy Minister Khalid Al-Falih to Visit Pakistan

Islamabad: Khalid Al-Falih, Saudi Arabia minister of energy, industry and mineral resources will soon visit Pakistan to sign a Memorandum of Understanding (MoU) for establishing an oil refinery in Pakistan, apart from finalizing other major projects in which Saudi Arabia has shown interest.

It was revealed by Saudi Ambassador to Pakistan Nawaf Bin Saeed Al-Malkiy, who paid a courtesy call on President Dr Arif Alvi here on Tuesday, a press release issued by the President’s Media Office said. Welcoming the ambassador, the president underlined the close, cordial and brotherly relations that existed between Saudi Arabia and Pakistan and highlighted different areas of economy where Saudi investors could invest.

President Dr Arif Alvi stressed that there was a need for exchange of more business delegations between the two countries. He said the ambassador could play a critical role in increasing the bilateral trade. The president lauded the role of Pakistan’s armed forces for defeating terrorism in the country which had resulted in the establishment of durable peace in the country and revival of its economy.

The Saudi ambassador briefed the president about two recent visits of the prime minister to Saudi Arabia and said 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 businessmen to invest in various sectors of economy.

Saudi Arabia last month announced to provide cash-strapped Pakistan USD 3 billion in balance of payment support and additionally give oil worth USD 3 billion on deferred payment after Prime Minister Khan met Saudi King Salman in Riyadh.

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