Cabinet gives green signal to agreements among Pakistan, Saudi Arabia

Islamabad: The federal cabinet meeting on Thursday approved all agreements between Pakistan and Saudi Arabia which were finalized during recent visit of Saudi delegation.

In media briefing, Information Minister Fawad Chaudhry and Petroleum Minister Ghulam Sarwar informed the media about the six point agenda of cabinet meeting.

Fawad confirmed

cabinet approved all agreements which were discussed with Saudi Arabia delegation’s visit. He said that Saudi Arabia will construct an oil refinery in Gwadar and it has been approved by cabinet. 

Besides, an investment of Rs 30 billion in oil and gas sector will also be made by Saudi Arabia, he added.

Ghulam Sarwar explained that Kingdom has shown interest in Gwadar and particularly China Pakistan Economic Corridor (CPEC).

In this regard Minister of energy Saudi Arabia will be visiting Islamabad in November, he said adding that all agreement will be government to government agreements.

Fawad told media that converting of Prime Minister House into university, new appointments in Ministry of Finance, Monetary policy boards were also approved by cabinet.

Cabinet also approved removal of people appointed by former finance minister Ishaq Dar illegally, he noted. 

Minister went on saying that cabinet approved removal of presidents of National Bank, First WomanBank, Zarai Taraqiati Bank and SME Bank.

Deputy Governors of State Bank of Pakistan Jameel Ahmed and Shams-ul-Hasan and Ms Vaddiya from Competition COmission of Pakistan were also removed, he said