Saudi Crown Prince Mohammed bin Salman would be visiting Pakistan soon to set up around $10 billion worth of oil refinery in Pakistan, Prime Minister Shehbaz Sharif said.
“After much difficulty, we managed to convince the Saudi Arabia government to set up the oil refinery in Pakistan,” he said while addressing the passing out parade of the Police Service of Pakistan 48th STP Badge at the National Police Academy in Islamabad.
“You should be ready. He will be coming here,” the premier said as he shared the details of his meetings with the Saudi crown prince earlier this week in Riyadh.
The Kingdom of Saudi Arabia, during the last visit of Mohammed bin Salman in February 2019, signed MoUs for an investment of $21 billion in various sectors of the economy, including for the project of a deep conversion refinery and petrochemical complex with an investment of $10 billion in Gwadar.
“You are my brother. Pakistan and Saudi Arabia people are connected by a bond. We are like one family and I am ready to do everything,” PM Shehbaz quoted the Saudi crown prince as saying. “[I am] ready for everything. You should start projects, make their feasibility and I hopefully will do it that includes an oil refinery worth around $9 billion to $10 billion. He is about to visit Pakistan inshallah.”
He requested everyone to utilize their time and welcome the Saudi crown prince. “Pakistan’s happiness is their happiness.”
The premier claimed that the Saudi government was “disappointed” with the “lack of response” on it, prompting the friendly country to look for other avenues for investment.
The government was also looking for solar energy projects.
“What is the need to damage ties with the US we have to live in this world,” he said while highlighting the country’s need for loans to improve its economic situation. “We have to learn from past mistakes and struggle to develop the country.”
He highlighted that the Saudi Development Fund delegation was disappointed with the lack of progress on their proposal to set up a hospital in Pakistan. “It was a grant. It could have benefitted our people but the previous governments did pay heed to it.”
The premier said that he apologised to the delegation and expressed same views during his meeting with the Saudi crown prince.
He suggested three things for modernising the National Police Academy while acknowledging their demand for land and increase in salaries.
He described such things as essential requirements and urged Finance Minister Ishaq Dar to release funds for it.
