Petromin (2)

For the period of 1975-80 (1394-1401 AH) Petromin's activities were governed by its own five year plan. This in turn was circumscribed by a number of basic governmental policies. These included that of avoiding adverse influence on local life through excessive concentrations of population.

At the same time, industrial development would take place with as much vertical and horizontal integration as possible. Good husbandry was stimulated by the emphasis on profitability. Long-term planning - beyond the span of any five year period - was a further requirement.

There was the caution that Petromin, with all its potential, should not encroach into fields already within the authority of other government bodies or ministries, but should integrate its planning with theirs.

Lastly, Petromin would give priority to projects which might provide opportunities for private Saudi investment and, wherever possible, look to the expansion of job opportunities for Saudis.

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