ISLAMABAD: Federal Minister for Petroleum Ghulam Sarwar Khan has announced that the government will review the new slab of gas bills.
Talking to media, he maintained that the present increase in gas bills is being inquired.The minister told that IMF is pressurizing to increase gas prices since January.
A press release issued by the ministry says visit of Crown Prince Mohammad Bin Salman is success of economic diplomacy between Pakistan and Saudi Arabia.
“Ten MoUs including one on a $10 billion Oil refinery and petrochemical complex to be signed with the Saudi Government during the visit,” it says.
Ghulam Sarwar Khan remarked that previous governments built personal relations with Saudi Arabia and China whereas under the vision of a new Pakistan, Prime Minister Imran Khan has focused on developing a relation based on mutual respect and national interests.
He pronounced that the Saudi side has indicated that the capacity of proposed oil refinery will be between 250,000-300,000 bpd (11-13 million tons per annum) and initially both sides will study the feasibility of the proposed project after signing the MOU.
Federal Minister for Petroleum told that the visiting side has also shown interest in mines, minerals, fertilizers, phosphate and LNG storage capacity.
He said the Saudi side has also expressed strong interest in exploring investment opportunities in Pakistan’s Petrochemical sector which was termed as a ‘game changer’ and would result in savings of $ 1.2 billion per annum in import substitution.