Petroleum Division To Grant Approval Of Incentives For 5 Existing Refineries
The Petroleum Division To Revisit The Upfront Incentive Package Offered To The Existing Refineries In The Country.
The Petroleum Division has asked the managing directors of all the country’s five refineries to attend an important meeting, scheduled to be held on Monday, October 11, to discuss Pakistan Oil Refining Policy 2021. The division’s directorate general of oil, in a letter issued on Friday, requested the heads of Pak Arab Refinery Limited, Pakistan Refinery Limited, Byco Petroleum Pakistan Limited, Attock Refinery Limited and National Refinery Limited to attend the meeting, which would be held on October 11. The meeting would discuss the draft of Pakistan Oil Refining Policy 2021. According to sources, the Cabinet Committee on Energy (CCoE) had approved the Pakistan Oil Refinery Policy, 2021 in principle during the last month and directed the Petroleum Division to revisit the upfront incentive package offered to the existing refineries in the country.
The sources said that the division has now called a meeting with heads of refineries for brainstorming and to review the proposed incentives for the existing refineries of the country. They said the petroleum division, after consulting the relevant stakeholders, is likely to submit a draft Pakistan Oil Refining Policy, 2021 during the next CCoE meeting for necessary approval. It is hoped that next CCoE meeting will grant approval regarding the proposed incentives for the existing five oil refineries of the country, the sources added.
This news was originally published at Pakistan Today