Saturday, 19 October, 2019

Pakistan seeks to build oil refinery near #Gwadar port – #Pakistan is also during the #Saudi visit expected to seek financial assistance from its oil-rich ally to avoid another bailout by the #IMF


Pakistan wants to build an oil refinery near the deep-water port of Gwadar to reduce petroleum product imports, a planning official said on Tuesday as the government hosted a Saudi delegation reported to be considering funding the project.

Pakistan is also during the Saudi visit expected to seek financial assistance from its oil-rich ally to avoid another bailout by the International Monetary Fund amid a foreign currency crisis fuelled by a widening current accounts deficit.

Read more: Pakistan seeks to build oil refinery near Gwadar port -… | Daily Mail Online

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