ISLAMABAD: Prime Minister Shehbaz Sharif on Monday chaired a meeting of the Cabinet Committee on Energy, which approved proposed amendments to the Pakistan Oil Refining Policy 2023 aimed at upgrading the country’s refining sector and strengthening energy security.
The meeting, held at the Prime Minister’s House, endorsed changes to the policy to facilitate the modernization of existing brownfield refineries and improve the production of cleaner fuels.
Addressing the meeting, the prime minister said the upgradation of oil refineries was a pressing national requirement and a key pillar of Pakistan’s energy security framework. He said modern refineries would not only help meet the country’s growing energy needs but also reduce dependence on imported fuels and support the supply of environmentally friendly petroleum products.
Officials briefed the committee that upgrading existing refineries was essential to increase production capacity and enable the manufacture of Euro-IV and Euro-V standard fuels. They said the move would help Pakistan fulfill its international environmental commitments, reduce air pollution, and provide consumers with higher-quality fuel.
Prime Minister Shehbaz directed authorities to introduce reforms in the Oil and Gas Regulatory Authority (OGRA) to improve its performance and ensure it better meets market requirements. He said the reforms should promote competition, transparency, and investment in the energy sector.
He also stressed that the amended policy must be implemented effectively and without delay, warning that negligence or unnecessary delays would not be tolerated. The prime minister instructed the relevant ministries and institutions to accelerate the reform process in close coordination with all stakeholders.
Reaffirming the government’s commitment to sustainable energy reforms, Shehbaz Sharif said efforts would continue to promote modern technology and create a favorable environment for investment in the energy sector.
The prime minister also directed the authorities to organize roadshows in Qatar, Saudi Arabia, and other Gulf countries to promote the amended Pakistan Oil Refining Policy 2023 for brownfield refineries and attract foreign investment.
He praised Petroleum Minister Ali Pervaiz Malik and his team for their work on the amendments to the refining policy and also directed authorities to increase Pakistan’s strategic petroleum reserves.
The meeting was attended by federal ministers Ahsan Iqbal, Ahad Khan Cheema, Muhammad Aurangzeb, Ali Pervaiz Malik, senior government officials, and relevant federal secretaries.
