ISLAMABAD: Pakistani energy minister Muhammad Hammad Azhar on Tuesday met the Ambassador of Saudi Arabia to Pakistan, Nawaf bin Saeed Al-Maliki, and said it was the “perfect” time to invest in the oil refining business in the South Asian nation.
Special Assistant to the Prime Minister on Power and Petroleum, Tabish Gauhar, and the secretary of the Power Division, were also present at the meeting.
“Matters relating to ongoing cooperation between Pakistan and Saudi Arabia in the energy sector and upcoming visit of thePrime Minister to Saudi Arabia were discussed during the meeting,” the Pakistani energy ministry said in a statement. “Azhar informed the Saudi Ambassador that time is perfect to invest in the Oil Refining business in Pakistan since the demand for oil is increasing. He said that the government is brining a policy to facilitate potential investors in this regard.”
Gauhar briefed the Saudi ambassador on key features of a new proposed oil refining policy that would provide tax, custom duty and tariff-related concessions for investors for a set period.
“Potential investors like Saudi ARMCO can take benefit of the concessions,” Gauhar said.
‘Perfect’ time to invest in oil business in Pakistan, energy minister tells Saudi envoy
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‘Perfect’ time to invest in oil business in Pakistan, energy minister tells Saudi envoy
- Saudi ambassador Nawaf bin Saeed Al-Maliki called on energy minister Hammad Azhar on Tuesday
- Energy sector cooperation and upcoming visit of Pakistani PM to Saudi Arabia discussed
