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Pakistan seeks contemporary petroleum coverage to materialise $12b Saudi funding

by Pakistan Latest News Update

ISLAMABAD – Pakistan directed the related authorities to approve a contemporary petroleum coverage to facilitate the potential funding of $10 to $12 billion from Saudi Arabia.

The petroleum coverage will present Pakistan with a option to appeal to multi-billion-dollar investments. 

Earlier this week, Islamabad persuaded Riyadh to ascertain a $12 billion state-of-the-art deep conversion refinery together with a petrochemical advanced in Pakistan. 

Totally different ministries held consultations for finalising draft agreements, that are anticipated to be signed through the upcoming go to of Saudi Crown Prince Mohammad Bin Salman to Pakistan. 

Finance Minister Ishaq Dar on Thursday held a digital assembly on the First Joint Financial Sub Committee of the Saudi-Pakistan Supreme Coordination Council with Saudi Vitality Minister Prince Abdulaziz bin Salman bin Abdulaziz. 

Either side mentioned and reviewed areas of mutual cooperation and collaboration together with power, business, mineral sources, commerce, finance, funding tourism, communication info and expertise, agriculture, meals safety, transportation, logistics, maritime, and work to extend commerce trade and funding between the 2 international locations.

Minister for Board of Funding (BOI) Chaudhry Salik Hussain, State Minister for Petroleum Dr Musadik Malik, SAPM on Finance Tariq Bajwa and different senior officers from ministries of Finance, BOI, Maritime, Aviation, IT and Telecommunication, Meals Safety & Analysis, Petroleum and Energy Division attended the assembly.

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