Saudi Arabia has revealed plans to issue visas to Pakistani applicants on the same day, while both nations explore broader energy investments. Federal Minister for Petroleum Ali Pervaiz Malik hosted Saudi Ambassador Dr Rajeh bin Tami Al-Baqmi, during which Pakistan invited Saudi businesses to build commercial oil storage units through a new tax-neutral bonded storage policy.
Visa facility aimed at business and closer contacts
Saudi Ambassador Dr Rajeh bin Tami Al-Baqmi revealed the rapid visa service while meeting Federal Minister for Petroleum Ali Pervaiz Malik. He stated the measure would boost commercial ventures, cultural ties, and interpersonal relationships across both nations.
Al-Baqmi highlighted the importance Saudi Arabia attaches to its enduring ties with Pakistan and promised backing during tough times. Malik called mutual collaboration and shared goals the core of the partnership, noting that their strategic military alliance aids regional peace, stability, and financial cooperation.
Pakistan opens door to Saudi oil storage investment
Malik explained the newly sanctioned bonded storage framework, permitting Saudi firms to set up commercial crude reserves and storage activities inside Pakistan. He mentioned these installations could offer Saudi Arabia an alternative method to handle risks connected to sea trade lanes while supplying Asian markets.
The minister noted the suggested plans might draw funding and expand energy ties. Both parties consented to boost teamwork in these sectors:
- Petroleum and energy
- Commercial oil storage and related infrastructure
- Refinery upgrades
- Mineral resources
Hub complex forms part of petroleum plans
The discussion also touched on proposals for a massive petroleum storage and refining facility located in Hub, Balochistan. This planned construction would feature docking berths capable of accommodating large crude tankers.
Such installations could boost Pakistan capacity to manage fuel supplies and enhance its standing as a geographic energy route. Plant modernizations and extra oil storage facilities were likewise discussed.
Minerals forum invitation extends investment talks
Malik asked Saudi Deputy Minister for Mineral Resources Khalid to attend the Pakistan Minerals Investment Forum in Islamabad, set for November 12 and 13. The gathering will offer a chance to investigate funding and teamwork within Pakistan mineral sectors.
This request is part of broader initiatives by Pakistan to pull in Saudi mining funds, expanding talks past traditional petroleum links.
