$6 Billion Refinery Upgrades Plan Gets Green Light from PM Shehbaz Sharif

Prime Minister Shehbaz Sharif has approved amendments to Pakistan's Brownfield Refinery Policy 2023, paving the way for long-awaited upgrades of existing refineries. The plan aims to improve fuel quality, reduce imports, and attract fresh investment into the energy sector.

The proposed changes were made after consultations with industry stakeholders and relevant institutions. According to officials, the revised policy will accelerate refinery upgrades, increase production of environmentally compliant fuels, and reduce low-quality petroleum products.

PM Shehbaz Sharif emphasized that refinery modernization is essential for reducing dependence on imported fuels and ensuring a more secure energy system. He directed relevant ministries and institutions to ensure timely implementation of the revised policy and introduce reforms to improve the performance of the Oil and Gas Regulatory Authority (OGRA).

The government plans to promote the amended refinery policy among investors in Qatar, Saudi Arabia, and other Gulf countries through roadshows.