CAIRO (Reuters) – Saudi Power Minister Khalid al-Falih held talks in Pakistan on Saturday on cooperation in refining, petrochemicals, mining and renewable vitality, the official SPA information company stated, as Islamabad seeks to bolster its funds.
Falih met Pakistani Petroleum Minister Ghulam Sarwar Khan and Maritime Affairs Minister Ali Zaidi throughout a go to to Pakistan and its port of Gwadar on the Indian Ocean, SPA stated.
The go to aimed to make ultimate preparations earlier than signing memorandums of understanding with Pakistan in refining and different areas, the company added.
The workplace of Pakistani Prime Minister Imran Khan stated on Thursday that Islamabad anticipated to signal funding agreements with Saudi Arabia and the United Arab Emirates in coming weeks.
Riyadh agreed final yr to supply Pakistan a $6 billion bundle, with $three billion in international forex help for a yr and a mortgage value as much as $three billion in deferred funds for oil imports to assist stave off a present account disaster.
Pakistan has been searching for to strengthen its public funds and scale back its present account deficit, which a report from the Worldwide Financial Fund in November estimated at 5.9 % of gross home product in 2018.