Refinery upgradation plans
AFTER a full year of criticism that while it had stabilised the economy it had offered no vision for reform, the government is finally moving. A string of recent announcements makes the reform path clearer. Refineries are being asked to upgrade their operations in return for concessions granted in the Brownfield Refinery Upgradation Policy. A number of power distribution companies are being…
The government is making progress on reforms after a year of criticism for lacking a vision. Refineries are being asked to upgrade operations to receive concessions under the Brownfield Refinery Upgradation Policy. Power distribution companies are being prepared for privatization, and power wheeling, previously stuck since 2017, is beginning.
The finance ministry is helping with resources for refineries and the privatised PIA, as well as moving ahead with the Reko Diq project. A spectrum auction for 5G telecoms took place in March, attracting three major telecoms who bid at $500 million. The refineries' upgradation plan has received some criticism due to their limited ability to handle crude grades, but the Attock Refinery's plan is realistic.
The remaining three refineries will struggle to raise funds. The telcos showed interest in 5G after the previous auction's low response and have been granted concessions to introduce it. Wheeling in the power sector is expected to enhance energy resilience, faster communications, and provision flexibility.
Written by urgent.news from Dawn's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
