Pakistan eyes KSA investment in power sector
- During the visit, the Prime Minister’s consultations with the Saudi leadership will cover all areas of bilateral cooperation including economic, trade, investment, energy, job opportunities for Pakistani workforce, and welfare of Pakistani Diaspora in the Kingdom.
As Prime Minister Imran Khan is set on a three-day official visit to the Kingdom of Saudi Arabia, Pakistan is eyeing to grab KSA investment in the country’s power sector.
“We would wholeheartedly welcome investment from Saudi companies in Pakistan’s energy sector,” said Special Assistant to the Prime Minister on Power and Petroleum, Tabish Gauhar, quoted Arab News.
At the invitation of His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister Imran Khan will embark on an official visit to the KSA on 7 May 2021. During the visit, the Prime Minister’s consultations with the Saudi leadership will cover all areas of bilateral cooperation including economic, trade, investment, energy, job opportunities for Pakistani workforce, and welfare of Pakistani Diaspora in the Kingdom.
Meanwhile, Gauhar informed that Pakistan is in the process of rolling out a new oil refinery policy this year.
“Under the policy, various fiscal and other incentives shall be offered to existing and new players, such as Saudi Aramco, to upgrade and set up deep-conversion oil refineries in the country to further reduce our dependence on imported petrol and diesel,” Gauhar added.
Gauhar informed that Pakistan is keen to have a strategic dialogue with state-owned Saudi companies for a long term supply arrangement regarding LNG import.
The SAPM also welcomed KSA participation in Pakistan’s renewable energy sector.
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