ISLAMABAD (special crosspondent) – Prime Minister Shehbaz Sharif on Tuesday underscored that the modernization of Pakistan’s oil refineries is critical to fortifying national energy security. He stated that upgrading existing infrastructure is essential to reduce the nation’s reliance on fuel imports while facilitating the supply of cleaner, environmentally sustainable petroleum products to the public.

Approval of Revised Refining Policy

The Prime Minister delivered these remarks while chairing a high-level meeting of the Cabinet Committee on Energy, which formally approved proposed amendments to the Pakistan Oil Refining Policy 2023. During the proceedings, officials briefed the committee on the necessity of boosting domestic production capacity to meet evolving standards. The transition toward producing Euro-4 and Euro-5 compliant fuels is deemed vital to honor Pakistan’s international environmental pledges and address rising air pollution levels.

Regulatory Reforms and Sector Investment

In his directive, Prime Minister Shehbaz Sharif called for comprehensive reforms within the Oil and Gas Regulatory Authority (OGRA). He emphasized that such measures are required to foster transparency, promote healthy competition, and attract significant investment into the domestic energy landscape. The government remains committed to streamlining these processes, and the Prime Minister warned that any negligence or undue delays regarding the implementation of the new policy will not be tolerated. Relevant ministries have been instructed to maintain constant engagement with key industry stakeholders to accelerate this structural reform process.

Strategic Roadmap and International Engagement

The government’s long-term vision focuses on sustainable energy reforms and the adoption of modern technological solutions. To drive the amended Pakistan Oil Refining Policy 2023 for brownfield refineries, the Prime Minister directed authorities to organize strategic roadshows in Qatar, Saudi Arabia, and other Gulf nations to invite foreign investment. These efforts follow recent high-level discussions aimed at improving national resource management. Furthermore, the Prime Minister commended the Petroleum Minister for his work on the policy amendments and ordered an immediate increase in the nation’s strategic petroleum reserves. The meeting saw the participation of senior federal ministers, including Ahad Khan Cheema, Muhammad Aurangzeb, Ali Pervaiz Malik, and Ahsan Iqbal, alongside other key government officials.