Pakistan likely to get petroleum products from Saudi Arabia on deferred payments

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Pakistan likely to get petroleum products from Saudi Arabia on deferred payments

ISLAMABAD - High level Saudi delegation has reached Pakistan. During its six-day visit to Pakistan, the Saudi delegation will sign a MoU to make investments in the Balochistan Reko Diq gold and copper mines.

The prospect of setting up oil refineries in Gwadar is likely to be discussed by the delegation. The Saudi officials are expected to sign an agreement to sell petroleum products to Pakistan on deferred payments.

Further, agreements to privatise two Liquefied Natural Gas (LNG) power plants and sale of phosphate-containing fertilisers to Pakistan are also expected to be signed by the delegation.

Earlier this week, Information Minister Fawad Chaudhry said pacts with the KSA will be transparent and a huge investment will be made by the country.

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