PM Shehbaz Sharif after his recent visit to Saudi Arabia has said that the Saudi Crown Prince Muhammad bin Salman is willing to set up an oil refinery worth approximately $10 Billion in Pakistan.
The PM has revealed that MBS is willing to work on a number of projects in Pakistan including setting up of hospitals and oil refinery in the country. The oil refinery project is the same one that was agreed in 2019 but no progress was made on it during last three years. MBS has sought completion of feasibility study of the refinery and other projects for further action.
The premier said that he was embarrassed after a delegation of Saudi Development Fund (SDF) showed him a plethora of projects and stated that this project was given 8 years ago and this one 5 years ago. Upon this, he said that he requested two-week time from SDF and directed his team to complete the necessary work of the projects within 48 hours, adding everything was completed within 48 hours and placed before the SDF.
The premier added that among these projects also included a gift of hospital but regretted that no work was started on it for the last 6 years as even procedural work was not completed.