Pakistan, Saudi Arabia ink three key CPEC related agreements

  • Islamabad and Riyadh are likely to sign agreements on Reko Diq gold, copper mines, and Gwadar oil refinery
Pakistan

ISLAMABAD – Information Minister Fawad Chaudhry has said that Saudi Arabia has signed grant agreements with Pakistan to finance three projects related to the multi-billion dollar China-Pakistan Economic Corridor.

The accords are related to road infrastructure and energy projects which were inked between Saudi envoy and Pakistan’s finance ministry officials during Prime Minister Imran Khan’s visit to the Kingdom, the minister told media during a press conference on Thursday.

First step pertaining to the inclusion of Saudi Arabia in CPEC has been taken, he said, adding that these agreements show strengthened relations between the two countries.

A Saudi delegation is set to reach Pakistan on Sunday for further agreements, besides revealing that Islamabad and Riyadh are likely to sign agreements on Reko Diq gold, copper mines, and Gwadar oil refinery during the visit.

“When Imran Khan was in the Kingdom, Saudi Arabian leader including Crown Prince Muhammad bin Salman express willingness to finalise the deals within days” he said.

Talking about Afghan refugees, the information minister informed that the government would design a comprehensive policy on these refugees before giving them next extension of their stay in the country.

To deal with Financial Action Task Forces matters, the minister said that a DG financial monitoring position has been appointed at the State Bank of Pakistan.

He said that the first phase of reforms at the Federal Board of Revenue has been completed, adding that a grand operation would be launched against 100 biggest tax evaders.

He also hinted at launching anti-encroachments drives in Karachi as it was launched in Islamabad.