all five refineries are now ready to initiate upgrade projects involving a $6 billion investment plan.   The chief executive officers had a meeting on Tuesday with Petroleum Minister Ali Pervaiz Malik. The CEOs have  appreciated  role  of the minister in resolving  a year-long problem hampering refinery expansion plans.   The delegation included Zahid Mir-CEO Pakistan Refinery Limited, Irtiza Qureshi-MD PARCO, Adil Khattak-CEO Attock Refinery Limited, Amir Abbasi-CEO Cynergico, Asad Hasan: CEO National Refinery Limited.  The executives promised to immediately go ahead with investment plans soon after the budget was provided the matter stood permanently resolved. Last week, the government allowed about Rs1.87 per litre increased adjustment through transportation margin in petrol and diesel prices to clear about Rs34bn stuck up funds since July 2024. The refinery upgrading  projects, once completed, will significantly improve fuel standards, reduce reliance on imported petroleum products, and contribute to environmental sustainability by producing Euro-V compliant fuels. This initiative is at heart of the government's broader strategy to strengthen the energy sector and ensure long-term economic stability through foreign investments. (ICE ISLAMABAD)

Fonte notizia: dawn