ISLAMABAD: Prime Minister Imran Khan on Saturday decided to take the parliament in confidence over his recent visit to Saudi Arabia.
The prime minister will give all the details regarding his recent during National Assembly session.
On the other hand, PM Imran will arrive in Lahore on Sunday where he would be briefed about government’s 100-days plan.
During his visit to Saudi Arabia, it has been decided mutually that Saudi Arabia will build an oil city in Gawadar and the project will be part of China-Pakistan Economic Corridor (CPEC) project.
The 80,000-acres mega oil city at Gwadar will be used to transport oil from the Gulf region to China through the Gwadar Port. This will reduce the distance to just seven days from Gwadar to the Chinese border instead of the current forty days.
Saudi Arabia has shown a keen interest in CPEC primarily to relate its economy with China and take steps in achieving its Vision 2030, which aims to diversify the economy with energy mega projects to reduce oil dependency.
Khan bemoaned Pakistan’s financial situation in his first formal address as prime minister in August, saying that “never in Pakistan’s history have we faced such difficult economic circumstances”. The country’s fiscal deficit ballooned to 6.6 per cent of gross domestic product in the financial year to 30 June.
He announced a series of austerity measures and raised taxes for middle and higher earners, but warned he would “have to take more debt to repay our obligations” to international lenders. NNI