During the visit of Caretaker Prime Minister Anwar Haq Kakar to China, a memorandum of understanding has been signed between Pakistan and the Chinese company.
According to the announcement, the Chinese company United Energy Group will invest one and a half billion dollars in the petroleum industry in Pakistan.
The Prime Minister was accompanied by Caretaker Energy Minister Muhammad Ali at the signing ceremony.
Petrol and diesel from the refinery will be an alternative to expensive imported fuel.
Yesterday also there was a great progress in the trade relations between Pakistan and China, an agreement was reached with the Chinese company to increase exports by 2 billion dollars.
Sources of the Ministry of Commerce said that an agreement was reached between Pakistan and China to increase bilateral investment and trade.
This agreement was signed during the visit of Minister of Industry and Commerce Gohar Ijaz to China.
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