Prime Minister Shehbaz Sharif on Tuesday said that modernising Pakistan’s oil refineries was essential to national energy security, as the upgraded facilities would reduce reliance on imports and deliver cleaner, eco-friendly fuel.

The prime minister said this while chairing a meeting of the Cabinet Committee on Energy, which approved the proposed amendments in the Pakistan Oil Refining Policy, 2023.

During the briefing, it was informed that upgrading existing refineries was essential to boost their production capacity.

The production of Euro-4 and Euro-5 standard fuels is necessary to fulfil Pakistan’s international environmental commitments, reduce air pollution, and provide better quality fuel to the public.

The prime minister directed the introduction of reforms to improve the performance of the Oil and Gas Regulatory Authority (OGRA) and meet market requirements to promote competition, transparency, and investment in the energy sector.

He stressed that after the enforcement of the new policy, its effective and timely implementation must be ensured, asserting that any negligence or delay in this regard will not be tolerated.

He directed the relevant ministries and institutions to maintain close contact with all stakeholders to accelerate the reform process.

Prime Minister Shehbaz stated that the government would continue taking all possible steps for sustainable reforms in the energy sector, the promotion of modern technology, and the provision of a conducive environment for investment.

He directed the holding of roadshows in Qatar, Saudi Arabia, and other Gulf countries to promote the amended Pakistan Oil Refining Policy 2023 with respect to brownfield refineries.

He also praised the performance of the petroleum minister and his team regarding the amendments to the refining policy for brownfield refineries, besides directing an increase in the country’s strategic reserves of petroleum products.

During the briefing, the committee was updated on the upgrading of oil refineries, energy sector reforms, and the progress of policy implementation.

It was told that the amendments made to the Pakistan Oil Refining Policy 2023 for brownfield refineries aimed to ensure the production of eco-friendly Euro-5 compliant petrol and diesel, while reducing furnace oil and low-quality petroleum products.

The meeting was attended by federal ministers Ahad Khan Cheema, Muhammad Aurangzeb, Ali Pervaiz Malik, Ahsan Iqbal, along with relevant federal secretaries and senior government officials.