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KSA offered to set up oil reserves
ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik said Saudi companies could establish commercial oil reserves in Pakistan without incurring local tax liabilities, offering an opportunity to diversify maritime transit risks associated with the Strait of Hormuz and Bab el-Mandeb. He said the move would facilitate Riyadh’s access to Asian markets. Ali Pervaiz Malik held a meeting with the new Ambassador of Kingdom Saudi Arabia (KSA) to Pakistan, Dr. Rajeh bin Tami Al-Baqami, to discuss opportunities for strengthening bilateral cooperation in the mining, petroleum and energy sectors, in...
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