RIYADH – Saudi Arabia has confirmed that it is interested in investing in apetroleum refinery in Pakistan.

The MoU in this regard will be signed after obtaining cabinet approval.

The Kingdom expressed interest in development of mineral resources inPakistan. For the purpose, the federal government and the government ofBalochistan will consult, following which a delegation of the kingdom willbe invited to visit Pakistan.

Earlier in the day, after the inauguration of the FII Conference, aPakistan-specific session was organized, in which Prime Minister Imran Khanunderlined Pakistan’s priorities towards optimizing the economy andattracting foreign investment.

Stressing the focus of his government on human resource development, hehighlighted the potential of Pakistan’s youth, identified lucrativeinvestment opportunities in the tourism sector, minerals, coal and gasexploration, and Information Technology.