Pakistan presses Saudi Arabia to renew Refinery plan
Aftab Ahmed
Islamabad: Pakistan has pressed Saudi Arabia to renew its plan of setting up a $10 billion refinery in Balochistan.
Earlier, Saudi Arabia had shelved a plan of setting up a refinery in Pakistan following cold relations between two countries.
Pakistan and Saudi Arabia had entered into cold relations when the former shifted its focus to Turkey. Following this development, Saudi Arabia had called for returning money she had given to the PTI government to bail it out when it came into power.
Saudi Arabia had deposited $3 billion in Pakistan’s central bank to boost reserves that had dwindled. In addition to it, Saudi Arabia had also given freed credit oil facility worth $3.2 billion per annum.
The Kingdom had also discontinued this facility for the second year. China had helped Pakistan return the money to Saudi Arabia.
Saudi Ambassador Nawaf bin Said Al-Malki held a meeting with Federal Minister for Energy Muhammad Hamad Azhar. During the meeting, the Pakistani side urged the Saudi Ambassador to renew interest to set up a refinery in Pakistan.
Special Assistant to the Prime Minister for Power and Petroleum Mr. Tabish Gauhar and Secretary Power Division also attended the meeting.
The deep cordial relations between Pakistan and Saudi Arabia are based on common beliefs, culture, values , and traditions which need to be further expanded said Federal Minister of Energy.
Two sides discussed ongoing cooperation in the field of energy and the visit of the Prime Minister of Pakistan to Saudi Arabia were also discussed during the meeting.
The energy minister said that Pakistan has a conducive environment for setting up new refineries. Special Assistant for Power and Petroleum briefs Saudi Ambassador on proposed new refining policy.
The new proposed refining policy will include tax, customs duty, and tariff concessions for the petroleum sector. Saudi Arabia wants to further develop the existing deep ties with Pakistan, Nawaf Saeed Al-Maliki said. The Saudi Ambassador also briefed about the visit of the Prime Minister of Pakistan to Saudi Arabia.
