ISLAMABAD: The government of Saudi Arabia
has signed three grant agreements with Pakistan to finance three road infrastructure and energy projects under the China Pakistan Economic Corridor (CPEC).
"These agreements have been inked in line with the understanding reached during Prime Minister Imran Khan's recent visit to Saudi Arabia," Information Minister Fawad Chaudhry told a press conference on Thursday.
The agreements were signed by the Saudi envoy and the officials of Pakistan's finance ministry.
Minister says agreements on Reko Diq gold, copper mines and Gwadar oil refinery likely to be signed next week
"The first step has been taken as three grant agreements have been signed. This is a very positive step and bodes well for relations between the two countries," the minister added.
Giving a briefing about the federal cabinet's meeting held earlier in the day, he said that a high-level Saudi delegation would arrive in Pakistan on Sunday for materialising the deal between Islamabad and Riyadh.
More agreements would be inked next week between a high-level Saudi delegation and Pakistani officials, Mr Chaudhry said. The accords will be related to Reko Diq's gold and copper mines and the oil refinery at Gwadar Port, and the delegation would comprise the Saudi investment team, minister for petroleum and minister for energy.
"During the prime minister's recent visit, Saudi Arabian leaders including Crown Prince Muhammad bin Salman were eager to fanalise the deal within days despite the fact that such deals require months for materialising," the minister said.
It may be mentioned that since the prime minister's visit to Saudi Arabia, the opposition has been asking the government to unveil the pledges made by Riyadh regarding mega investment and monetary assistance to Pakistan.
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