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Govt wants Oil Refineries To upgrade themselves says FM

On June 23 Tuesday, 2021, a board meeting was held at the Ministry of Finance to examine progress on The Draft Pakistan Oil Refining Policy 2021. Participants in the meeting included the Federal Minister for Power, SAPM on F&R, SAPM on Power, Secretary Finance, Secretary Petroleum, DG Oil, as well as representatives of oil refineries.

Shaukat Tarin, Federal Minister for Finance and Revenue said “Prime Minister is very keen about progress in all sectors of the economy for sustainable growth,” He further added that the power& energy sector was extremely important to maintain the progression of economy changing with ever-growing momentum.

In Pakistan, the energy safety of the country has supported oil refineries and now the government needs the domestic oil refineries to update themselves on an equal footing with international standards. Development, effectiveness, and environmental friendliness must be shared characteristics of all oil refineries in Pakistan, said the FM.

Representatives from the oil refineries stated that the oil refinery industry is extremely pleased because of the support and the help provided by the government. They went on to say that the whole oil refinery sector is prepared to upgrade itself to international standards and a complete structure is ready.

The Federal Minister for Finance and Revenue instructed the attendees to work together to beat all the obstacles in the design of the new Oil Refining Policy 2021 so that similar may come into force as soon as possible.

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