ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed authorities to expand Pakistan’s strategic petroleum reserves, describing the modernisation of the country’s oil refineries as a vital component of national energy security.
The directive came during a meeting of the Cabinet Committee on Energy at the Prime Minister’s Office, where the committee approved proposed amendments to the Pakistan Oil Refining Policy 2023, according to an official statement.
Refinery upgrades declared national priority
Chairing the meeting, Prime Minister Shehbaz said upgrading Pakistan’s oil refineries has become an urgent national requirement.
He noted that modern refineries would not only strengthen the country’s energy security but also help reduce dependence on imported refined petroleum products while producing cleaner, environmentally friendly fuels.
Officials informed the meeting that expanding and upgrading existing refineries is essential to increase production capacity and meet Pakistan’s growing energy demand.
Focus on Euro-4 and Euro-5 fuel standards
The meeting was told that producing fuels compliant with Euro-4 and Euro-5 environmental standards is crucial for fulfilling Pakistan’s international environmental commitments, reducing air pollution, and improving fuel quality for consumers.
The approved amendments aim to accelerate the production of cleaner petrol and diesel while gradually reducing reliance on furnace oil and other lower-quality petroleum products.
PM orders reforms in OGRA
Prime Minister Shehbaz also instructed authorities to introduce reforms in the Oil and Gas Regulatory Authority (OGRA) to improve its performance.
He said reforms should promote greater competition, transparency, and investment across Pakistan’s energy sector.
The premier further directed ministries and relevant institutions to ensure the effective and timely implementation of the revised refining policy, warning that any negligence or unnecessary delays would not be tolerated.
He instructed officials to maintain close coordination with all stakeholders to speed up the reform process.
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Investment roadshows planned in Gulf countries
To attract foreign investment, the prime minister directed authorities to organise investment roadshows in Qatar, Saudi Arabia, and other Gulf countries to promote opportunities under the revised brownfield refinery policy.
He also appreciated Petroleum Minister Ali Pervaiz Malik and his team for their work on the proposed amendments.
Government reiterates commitment to energy reforms
During the briefing, officials updated the committee on refinery modernisation projects, broader energy-sector reforms, and the implementation status of the refining policy.
Prime Minister Shehbaz reaffirmed that the government remains committed to introducing sustainable reforms, encouraging the adoption of modern technologies, and creating an investment-friendly environment to strengthen Pakistan’s long-term energy security.
The meeting was attended by Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Ali Pervaiz Malik, Ahsan Iqbal, along with senior government officials and relevant federal secretaries.
