ISLAMABAD: Information Minister Fawad Chaudhry on Thursday said that the cabinet has approved the conversion of Prime Minister House into a high-level university.
He was addressing a press conference in Islamabad after attending a federal cabinet meeting.
The information minister said that the cabinet has given approval for the agreements between Pakistan and Saudi Arabia. “Saudi Arabia is going to do huge investment in Pakistan,” said Fawad Ch.
Fawad Chaudhry said “Saudi Arabia will make an investment of Rs 30 billion in Pakistan pertaining to the discovery of oil and gas.”
To this an approval has been accorded for the construction of an oil refinery in Gwadar, he added.
Petroleum Minister Ghulam Sarwar Khan added that Saudi Arabia is interested in Gawad and the China-Pakistan Economic Corridor (CPEC) and has also expressed the desire to immediate investment in oil refinery.
The petroleum minister said that Saudi delegation also visited Gwadar. “We sat down and held initial discussions with them and it was principally decided by both countries that it will be a government-to-government agreement.