Tarin For Early Formulation Of Oil Refining Policy 2021

Federal Minister for Finance and Revenue, Shaukat Tarin on Tuesday directed to remove obstacles in the formulation of fresh Oil Refining Policy 2021

ISLAMABAD, (UrduPoint / Pakistan Point News - 22nd Jun, 2021 ) :Federal Minister for Finance and Revenue, Shaukat Tarin on Tuesday directed to remove obstacles in the formulation of fresh Oil Refining Policy 2021.

According to press statement issued by the ministry, the minister was chairing a meeting to review progress on Draft Pakistan Oil Refining Policy 2021 at Ministry of Finance Tarin said that the Prime Minister is very keen about progress in all sectors of the economy for sustainable growth, adding that energy sector was indeed very crucial to keep the cycle of economy moving with ever growing momentum.

Oil refineries in Pakistan have been pillar of energy security of the country and now the government wants the domestic oil refineries to upgrade themselves at par with international standards, he added.

Modernization, efficiency and environment friendliness should be common characteristics of all oil refineries in Pakistan and the government was willing to extend all support permitted under law and policy framework to this effect.

On the occasion, the representatives of oil refineries said that the oil refinery industry was very happy due to support and patronage provided by the government.

They added that the entire oil refinery sector was ready to upgrade itself to international standards and a complete framework is ready in this regard.

With the approval of new Oil Refining Policy, the journey towards international standards will start.

The meeting was attended by Federal Minister for Power, Hammad Azhar, Special Assistant to Prime Minister (SAPM) on Finance and Revenue, SAPM on Power, Secretary Finance, Secretary Petroleum, DG Oil and representatives of oil refineries.