Minister for Energy Hammad Azhar says Pakistan has conducive environment for setting up a new oil refinery.

He expressed these views in a meeting with Ambassador of Saudi Arabia Nawaf bin Saeed Al-Maliki who called on him in Islamabad today (Tuesday).

Hammad Azhar said Pakistan and Saudi Arabia enjoy deep brethren relations based on shared faith, traditions and customs.

Pak-Saudi bilateral cooperation in energy sector and the Prime Minister Imran Khan's forthcoming visit to Saudi Arabia also came under discussion in the meeting.

On this occasion, Special Assistant to the Prime Minister on Power and Petroleum Tabish Gohar briefed the ambassador about the proposed new oil refining policy.

He said various incentives in tax, custom duty and tariff would be part of the new refining policy.

Speaking on this occasion, the Saudi Ambassador said his country wants to further enhance its ties with Pakistan.