Report by Engineering Post
The Petroleum Division of the federal Government has sought a six months extension to enable all five oil refineries to sign the Pakistan Oil Refining Policy for undertaking the required upgradation of services.
On upgradation of their services as envisaged in the policy the oil refineries
will be entitled to avail incentives like producing Euro-V standard fuels and reduce further oil production and in the duty of some ratio on production of required production of High Speed Diesel and Motor Spirit in specified ratio to avail reduction in duty charges.
Pakistan Oil Refining Policy for Upgradation of Existing./Browning -field Refineries 2023″ has been in the process of development for the last more than four years and there were reports that these delays on one account or the other have already caused loss of $ 4 billion.
ARL, NRL and PRL have their plans ready to invest $ 3 billion in their upgradation projects .
Five oil refineries are Attock Refinery Limited, National Refinery Limited
Pakistan Refinery Limited, PARCO and Cnergyico Pakistan Limited.
