PM-led cabinet approves construction of Gawadar oil refinery, Pak-Saudi pacts
ISLAMABAD: The federal cabinet on Thursday given its congsent to business proposals being discussed between Pakistan and Saudi Arabia. The cabinet headed by Prime Minister Imran Khan discussed a six-point agenda. "The cabinet gave approval for the agreements discussed between Pakistan and Saudi Arabia during a visit of the Kingdom's delegation last week," Information Minister Fawad Chaudhry briefed media after the meeting. An approval has been accorded for the construction of an oil refinery in Gwadar, he said. "Saudi Arabia will make an investment of Rs30 billion in Pakistan pertaining to the discovery of oil and gas,” he said. Speaking on this occasion, Petroleum Minister Ghulam Sarwar said, "Saudi Arabia is interested in Gwadar and the China-Pakistan Economic Corridor and has expressed the desire to immediately invest in an oil refinery.""It has been agreed that it will be a government to government (G2G) agreement," Sarwar further added. "Saudi Arabia's minister of energy will visit Islamabad next month," he further said while adding that the volume and other details are yet to be decided."At the time of the agreements, provincial governments will also be taken into confidence," the petroleum minister assured.Speaking about the other points discussed during the meeting, Chaudhry said, "The cabinet approved converting the Prime Minister House into a high-level research university." The cabinet also accorded approval for appointments of new members in the Ministry of Finance and the fiscal and monetary policy boards, Chaudhry added. "We have decided to remove the illegal appointments made by former finance minister Ishaq Dar," he added. "The previous government was run by Nawaz Sharif and Ishaq Dar."Chauhdry further announced that presidents of National Bank, First WomanBank, Zarai Taraqiati Bank and SME Bank have been removed. Jameel Ahmed and Shams-ul-Hasan have been removed as deputy governors State Bank, the information minister announced. "Ms Vaddiya has also been removed from Competition Commission Of Pakistan," Chaudhry added that two other members of the Competition Commission Of Pakistan had been removed.
from The News International - National https://ift.tt/2DXLx50
from The News International - National https://ift.tt/2DXLx50
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