Pakistan is looking forward to finalizing a long-awaited $10 billion deal with Saudi Arabia’s oil company, Aramco, to build a refinery in Hub by the end of 2023. They are also trying to secure around $7 billion from Saudi Arabia by offering shares in the Reko Diq project.
Sources say that they’ve approved policy incentives to attract Saudi investment under the Greenfield Refinery Policy 2023. Saudi Arabia might get shares in the $7 billion Reko Diq project through a feasible transaction model with the help of the Saudi Wealth Fund.
Additionally, they plan to lease 85,000 acres of corporate farmland to foreign investors. The Special Investment Facilitation Council (SIFC) wants to make it easier for investments in crucial infrastructure. They are also working on government-to-government arrangements for sectors like energy, minerals, agriculture, and IT.
The SIFC is exploring G2G options for privatizing state-owned enterprises (SOEs). The first deal with the UAE’s AD Ports for the Karachi container terminal is already done, and another one for the Bulk and General Cargo Terminal is coming soon. They are also looking into tech-driven investments to boost productivity in the country.
