{
  "id": 17225028,
  "title": "Pakistan Offers Saudi Arabia Tax-Free Oil Storage",
  "url": "https://urgent.news/2026/10/30/pakistan-offers-saudi-arabia-tax-free-oil-storage",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-30T12:02:52.000Z",
  "source": {
    "name": "ProPakistani",
    "slug": "propakistani",
    "url": "https://propakistani.pk/2026/10/30/pakistan-offers-saudi-arabia-tax-free-oil-storage/"
  },
  "original_language": "en",
  "account": "Pakistan has proposed tax-free oil storage facilities for Saudi Arabia, enabling Saudi firms to establish commercial oil reserves without incurring local taxes. Federal Minister for Petroleum Ali Pervaiz Malik discussed this offer during a meeting with the new Saudi Ambassador to Pakistan, Dr Rajeh bin Tami Al-Baqami, focusing on cooperation in mining, petroleum, energy, and oil storage. Tax-Neutral Bonded Policy The minister clarified that Pakistan has approved a tax-neutral bonded policy, modeled after international energy hubs like Fujairah and Singapore. This policy allows Saudi companies to store oil in Pakistan without facing local tax liabilities. Strategic Benefits The arrangement benefits Saudi Arabia by diversifying maritime transit risks associated with the Strait of Hormuz and Bab Al Mandeb Strait, while providing easier access to Asian markets. Storage in Pakistan would also grant the kingdom greater flexibility in managing supply routes. Major Petroleum Storage and Refining Complex Ali Pervaiz outlined plans for a significant petroleum storage and refining complex at Hub, Balochistan, designed to accommodate Very Large Crude Carriers. This complex aims to bolster Pakistan's role as an energy corridor for Central Asian and Chinese markets. Government Plans Earlier, the government announced plans for an oil city at Hub with a large storage complex. He encouraged Saudi investment in Pakistan's refinery upgradation program, which seeks to modernize local refineries and align with Euro 5 fuel standards. Cooperation on Supplies The minister expressed gratitude to Saudi authorities at Yanbu port for prioritizing crude oil shipments to Pakistan during recent global market disruptions. Discussions also covered enhanced crude oil and dedicated LPG supplies with Saudi Aramco in anticipation of increased gas demand during winter. Diplomatic Engagement The Saudi Ambassador to Pakistan announced the introduction of same-day visa processing for Pakistani citizens at the Saudi Embassy in Islamabad. The minister also extended an invitation for Saudi Vice Minister of Mining Khalid al-Mudafier to attend the Pakistan Minerals Investment Forum in Islamabad on November 12-13.",
  "summary": "Pakistan has offered Saudi Arabia tax-free oil storage facilities, allowing Saudi companies to set up commercial oil reserves in the … Read More The post Pakistan Offers Saudi Arabia Tax-Free Oil Storage appeared first on ProPakistani .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}