Saudi Arabia to make big investment in CPEC projects

Pakistan has signed three agreements with Saudi Arabia and the Kingdom would make a big investment in CPEC projects, Information Minister Fawad Chaudhry said Thursday.

Last week, Pakistan invited Saudi Arabia to become its third partner in CPEC after Prime Minister Imran Khan visited on September 19.

“A Saudi delegation is visiting Pakistan next week,” Chaudhry told reporters in Islamabad. “It’s a first in our government and will be important.”

Afghan migrants
The minister said that over two million registered Afghan refugees are living in Pakistan and another 0.5 million are unregistered.
He said the government has decided to get the cabinet to make a plan for Afghan refugees.

The government has decided to take action against the FBR’s top defaulters, Chaudhry said, adding that the prime minister has instructed all ministers against favouring anyone.

At the briefing to reporters, Omar Ayub, the minister for energy, pitched in to criticize previous governments for what he said was not paying attention to the oil and gas sectors. “Nobody paid attention to distribution companies and this affected the whole industry,” Ayub said. “Cuts in oil prices didn’t benefit the industry.”

The minister said that the previous government did not invest in the power transmission system. “The gas sector is facing circular debt of Rs150 billion,” Ayub said.



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