ISLAMABAD, April 11 (APP):Minister for Petroleum and Natural Resources Ghulam Sarwar Khan Thursday said the government is providing conducive environment to foreign and local investors.
He expressed these views during a meeting with Chief Executive Officer (CEO) of Mubadla Petroleum Musabbeh Al Kaabi who called him along with Ambassador of the United Arab Emirates (UAE), a press release said.
Federal Minister Ghulam Sarwar Khan, while, welcoming said Pakistan under the leadership of Prime Minister Imran Khan is committed to facilitate foreign investors and efforts are already underway to make incremental improvement in the ease of doing business in the country.
The CEO of Mubadla Petroleum, Musabbeh Al Kaabi, appreciated the steps taken by the government to facilitate the investors in the country. He said his company’s resolve to further invest in Pakistan.
Al Kaabi also shared the progress on the establishment of PARCO Coastal Refinery. The PARCO Coastal refinery would be one of the UAE’s major investments in the country.
The minister was also apprised of execution timelines of the coastal oil refinery and both dignitaries expressed satisfaction over the current headway being made by both sides on this vital undertaking.
PARCO’s plan to setup a deep conversion state-of-the-Art refinery would be able to refine 250,000 bpd and would be instrumental in making savings to the national exchequer.
Visiting gusts also showed interest in LNG business and exploration on onshore and off shore blocks.
Ghulam Sarwar Khan commended UAE’s continued investments in various sectors of the Pakistan.