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Pakistan offers tax-free oil storage facilities to KSA
In a bid to attract foreign investment, Pakistan has approved a tax-neutral bonded policy allowing Saudi companies to establish commercial oil reserves in the country without local tax liabilities. The development came during a meeting between Federal Minister for Petroleum Ali Pervaiz Malik and the new Ambassador of Saudi Arabia to Pakistan, H.E. Dr Rajeh bin Tami Al-Baqami, to discuss opportunities for strengthening bilateral cooperation in the mining, petroleum and energy sectors, including strategic oil storage, refinery upgradation, LPG supplies and facilitation of commercial engagement. ...
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