ISLAMABAD: A high-level Saudi delegation will be signing five significant Memorandums of Understandings (MoUs) with Pakistan during their visit following Prime Minister Imran Khan's successful meetings with King Salman and Crown Prince Mohammad Bin Salman earlier this month.
Minister of Information Fawad Chaudhry said the delegation reaching today also include Saudia Arabia’s ministers for finance and petroleum.
The delegation is also expected to discuss the likelihood of establishing oil refineries in Gwadar.
Sources said that the probability of Saudi officials signing an agreement to sell petroleum products to the country on deferred payments is also on the cards.
Furthermore, sources stated that the delegation’s six-day trip will also include the signing of an MoU for investments in the Reko Diq gold and copper mines of Baluchistan.
Two power plants of Liquefied Natural Gas (LNG) are also expected to get privatized through agreements during the meetings while sale of phosphate-containing fertilizers to Pakistan is also in the offing of getting signed by the officials.
"As I had said earlier on our return from Saudi Arabia, the kingdom has expressed interest in investing with us for CPEC projects as well as infrastructure development and to that end is bringing major investments here. The first step has been taken (three grant agreements have been signed) and this is a very positive step and bodes well for relations between the two countries," the information minister said earlier.