Pakistan is paving the way for the revival of oil refinery projects worth $6 billion as the government moves to amend the Brownfield Refinery Policy on the recommendation of the Special Investment Facilitation Council (SIFC).
The policy revisions aim to create a more favorable environment for investment in existing refinery projects, offering key incentives to attract both local and foreign investors.
Sources said the government is actively considering tax reforms, curbing petroleum smuggling, and controlling diesel imports as part of the broader energy sector overhaul.
A critical part of the proposed changes is providing a seven-year tax stability guarantee to refineries, which is expected to significantly boost investor confidence.
The amendments are designed to facilitate the upgradation of existing refineries to produce higher-quality fuels, aligning with international standards.
The SIFC’s proactive engagement has successfully strengthened the link between the government and the private sector, leading to improved policy execution and enhanced cooperation.
Government officials reiterated their commitment to driving innovation in the energy sector through financial incentives and structural reforms. The SIFC’s support is seen as a catalyst for sustainable progress and long-term economic stability.
