ISLAMABAD – The Embassy of Saudi Arabia in Islamabad has introduced same day processing of visa applications for Pakistani citizens to facilitate travel and strengthen business, cultural and people to people exchanges.
New Ambassador of Saudi Arabia to Pakistan Dr. Rajeh bin Tami Al-Baqami made the announcement during a meeting with Federal Minister for Petroleum Ali Pervaiz Malik.
Both sides also discussed opportunities for strengthening bilateral cooperation in the mining, petroleum and energy sectors, including strategic oil storage, refinery upgradation, LPG supplies and facilitation of commercial engagement.
The Minister welcomed the longstanding strategic partnership between Pakistan and Saudi Arabia and conveyed that, during his recent visit to Riyadh, he had conveyed to Prince Abdulaziz bin Salman Al Saud the leadership’s special sentiments of solidarity and affection for the Saudi people. He said Pakistan deeply values its historic relationship with Saudi Arabia and remains committed to expanding cooperation across strategic sectors.
The minister informed the ambassador that Pakistan has approved a tax neutral bonded policy, benchmarked against international energy hubs such as Fujairah and Singapore. Under this framework, Saudi companies can establish commercial oil reserves in Pakistan without local tax liabilities, offering an opportunity to diversify maritime transit risks associated with the Strait of Hormuz and Bab Al Mandeb Strait while facilitating access to Asian markets. He highlighted that strategic oil storage facilities in Pakistan would provide Saudi Arabia with greater flexibility in managing supply routes and accessing regional markets.
He further highlighted Pakistan’s plans to develop a major petroleum storage and refining complex at Hub, Balochistan, under guidance of Technip Energies UK. The proposed facility, supported by the Prime Minister and the Chief of Defence Forces, will have the capacity to accommodate Very Large Crude Carriers and strengthen Pakistan’s potential as a regional energy corridor serving Central Asian and Chinese markets.
