Pakistan’s Refinery Modernization Program Finally Moves Forward
Pakistan’s long delayed refinery modernization program is finally moving toward implementation, with five major domestic refineries preparing investments of between … Read More The post Pakistan’s Refinery Modernization Program Finally Moves Forward appeared first on ProPakistani .
Pakistan's long delayed refinery modernization program is finally moving forward, with five major domestic refineries preparing investments of between $4.5 billion and $5 billion in projects aimed at reducing furnace oil production, improving fuel quality and expanding refining capacity. The government is now working to finalize implementation agreements with all five companies, with the agreements expected to be signed at a high-level ceremony attended by Prime Minister Shehbaz Sharif.
Under the recently amended Brownfield Refineries Upgradation Policy, the refineries now have 45 days to sign their implementation agreements, down from the previous 60-day period.
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