KARACHI: Pakistan and the Kingdom of Saudi Arabia have finalized the Memorandum of Understand (MoU) for the construction of multi-billion dollar Saudi Aramco oil refinery in Gwadar deep seaport city, located in Balochistan province, officials said on Thursday.
Pakistan is expecting to sign a number of investment deals including the construction of mega oil refinery in the month of February in the presence of a high-level Saudi delegation, confirmed Information Minister Fawad Chaudhry.
“The oil refinery project is the biggest investment project of Saudi Arabia in Pakistan,” he added.
Pakistan and Saudi Arabia have lately expressed renewed interest in enhancing bilateral strategic and trade engagements while the Kingdom also pledged $3 billion in a financial assistant to help Pakistan out of its economic woes.
“A 15-member delegation of Saudi Arabia visited Gwadar from Karachi as part of the finalization process of the MoU for Aramco oil refinery,” Haroon Sharif, Minister of State and Chairman of Pakistan Board of Investment (BoI), told Arab News.
“We have finalized the MoU for the construction of Aramco oil refinery,” Sharif said adding that “overall directions have been agreed upon and the agreement will be signed at an ‘appropriate time’.”
Pakistani authorities expect $15 billion investment from Saudi Arabia after Prime minister Imran Khan chose the Kingdom for his maiden visit and consequently made two official visits.
Earlier, the BoI chief had said that “We are going to sign MoUs with Saudi Aramco and Acwa Power within few weeks. Saudi Aramco is going to set up oil refinery and petrochemical complex in Pakistan while Acwa Power will invest in Pakistan renewable energy sector”, Sharif informed.
As part of the investment plan, the Saudi Aramco will construct petrochemical complex housing multi-billion dollar oil refinery.
“I am expecting around $15 billion investment from Saudi Arabia in the next 3 years. The inflow of investment for oil refinery and petrochemical complex in Pakistan is estimated to be between $6 billion to $10 billion,” BoI Chairman told Arab News.
Pakistan hopes to attract more than $40 billion in Foreign Direct Investment (FDI) during the next five years. “We estimate that roughly around $40 billion investment will be made by these three countries (Saudi Arabia, UAE, and China) in the next three to five years,” Sharif had told Arab New during his recent interview.
During the recent visit of the Saudi delegation to Gwadar, the Chairman of Gwadar Port Authority, Dostain Khan Jamaldini, on Wednesday gave a briefing about the current developments including the port, progress on China-Pakistan Economic Corridor (CPEC) and Gwadar Master Plan.
Pakistan, KSA set to ink multi-billion dollar Aramco oil refinery deal
Pakistan, KSA set to ink multi-billion dollar Aramco oil refinery deal
- MoU for construction of mega oil refinery will be inked in February, says information minister
- Pakistan expects $15 billion investment from Saudi Arabia in the next 3 years
Pakistan arrests suspect arriving from Cambodia amid crackdown on human smuggling
- Suspect worked at an “online fraud company” in Cambodia, later started smuggling people from Pakistan, says FIA
- Pakistan has intensified crackdown against human smugglers after hundreds of migrants drowned near Pylos in 2023
ISLAMABAD: Pakistan’s Federal Investigation Agency (FIA) on Sunday said it had arrested a key suspect involved in smuggling humans who had arrived from Cambodia, alleging he was also part of an international fraud network.
The suspect, identified as Zainullah, was arrested by FIA officials when he arrived in the southern port city of Karachi from Cambodia.
Zainullah had traveled from Pakistan to Cambodia in September 2024, a press release issued by the agency said.
“He worked at an online fraud company in Cambodia and later became involved as an agent in recruiting individuals from Pakistan,” the FIA said.
The FIA said it recovered images of multiple individuals’ passports, payment receipts and bank transaction records after extracting data from Zainullah’s phone.
It said the suspect received money through personal bank accounts and a cryptocurrency account.
“The suspect has been handed over to the FIA Anti-Human Trafficking Circle, Karachi, for further legal proceedings,” the FIA said.
“Further investigation is underway.”
Pakistan intensified action against illegal migration in 2023 after hundreds of migrants, including 262 Pakistanis, drowned when an overcrowded vessel sank off the Greek town of Pylos, one of the deadliest boat disasters in the Mediterranean.
Authorities say they continue to target networks sending citizens abroad through dangerous routes, following heightened scrutiny at airports and a series of arrests involving forged documents.
Pakistan’s interior ministry said this week illegal migration to Europe has declined by 47 percent this year after its nationwide crackdown, saying that more than 1,700 human smugglers have been arrested in 2025.
