Islamabad (Commerce Desk): Federal Minister for Petroleum Ali Pervaiz Malik has said that all five oil refineries in Pakistan are ready to sign agreements for expansion and upgradation.
During his visit to Karachi, the federal minister reviewed the refineries’ financial and operational performance, progress on the existing policy, and matters related to the country’s energy security.
According to Ali Pervaiz Malik, agreements with all five refineries are expected to be signed at the beginning of next month, while the projects are expected to attract more than $6 billion in investment.
He said modernization of the refineries is essential to making the country’s petroleum sector stable and sustainable over the long term.