Islamabad: Federal Minister for Petroleum Ali Pervez Malik said on Wednesday that the government would accelerate the upgradation of local refineries under the direction of Prime Minister Shehbaz Sharif to strengthen Pakistan’s energy security.
Speaking to the media along with Federal Minister for Information and Broadcasting Attaullah Tarar, he said he would visit refineries in Karachi next week along with his team to discuss their upgradation and thank refinery operators for their cooperation.
‘We will do the work that could not be done in the last 70 to 80 years, ‘ the minister said, referring to the need to modernise the country’s refineries.
Ali said some local refineries had limited capacity to process sour and heavier crude oil, forcing Pakistan to import more expensive crude. This, he added, ultimately increased the cost of diesel and petrol for consumers.
The minister said important progress on refinery upgradation would be made in the coming days under the prime minister’s leadership.
He said the government would also work on operationalising bonded schemes and developing arrangements to secure crude oil from friendly countries for domestic requirements.
The Minister said these measures would help strengthen Pakistan’s energy security and address vulnerabilities in the energy sector permanently.
He said the government was committed to ensuring that the benefits of available opportunities are passed on to the people as promised by the prime minister.
