ISLAMABAD: Pakistan has offered Saudi companies the opportunity to set up oil reserves in the country on a commercial basis under a tax-neutral bonded storage policy.
Federal Minister for Petroleum Ali Pervaiz Malik was met by the new Saudi Arabian Ambassador to Pakistan, Dr. Rajeh bin Tami Al-Baqami, in which bilateral cooperation and investment in the minerals, petroleum and energy sectors were discussed.
Pakistan has offered Saudi companies to set up oil reserves in the country on a commercial basis under a tax-neutral bonded storage policy, while a plan to establish a large petroleum storage and refining complex in the Hub area of Balochistan has also been presented.