ISLAMABAD: Finance Minister Asad Umar has said that the visit of Saudi Crown Prince Muhammad bin Salman is a historic visit which will lay the foundation of taking the economic relations between the two countries to the next higher level. Talking to PTV, he said it is heartening that a Saudi energy company is taking interest to make investment in Pakistan in the energy sector. He said economy cannot run without energy.
He said the visit of the Saudi Crown Prince will take the bilateral relations to the new heights. Later, Advisor to Prime Minister on Commerce Abdul Razak Dawood expressed hope that the visit of Saudi Crown Prince Mohammad Bin Salman will help to enhance the current existing trade ties between the two countries.
Just completed meeting with saudi minister for energy, industries and mineral resources , His Excellency Khalid Al-Falih and his team. Wide range of investment projects worth billions of dollars discussed. MOU signing later today. pic.twitter.com/dMBGSijeP4
— Asad Umar (@Asad_Umar) February 17, 2019
In an interview, he said the meeting of Pak-Saudi Coordination Council will be held in Islamabad today (Sunday), a number of issues pertaining to agriculture and energy will be discussed on the occasion. The Advisor said an Oil Refinery will be set up in Gwadar, which will usher a new era of progress in the area. He said Saudi Arabia is also ready to upgrade transmission lines in Pakistan.
The Advisor said Saudi Arabia has also shown interest in investment in alternative energy projects. The Advisor said China, Japan, Malaysia and Turkey have also shown investment in Pakistan as the new government has introduced several steps for conducive business atmosphere in Pakistan. Meanwhile, Chairman Board of Investment Haroon Sharif said that signing of MoUs with Saudi Arabia will open new vistas of investment in the country.
Talking to media here on Sunday, he said Saudi Arabia is a big economic player and we are going to conduct an investor's forum with Saudi Arabia in future to hold business to business meetings between the two countries. He said the economic agenda of Pakistan is absolutely clear.
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