Prime Minister Shehbaz Sharif has approved amendments to Pakistan’s Brownfield Refinery Policy 2023, clearing the way for long-awaited refinery upgrades. The decision is expected to improve fuel quality, reduce imports and attract fresh investment into the country’s energy sector.
The approval came during a meeting of the Cabinet Committee on Energy after consultations with industry stakeholders and relevant government institutions. Officials said the revised policy would help accelerate refinery modernisation projects across Pakistan.
The Brownfield Refinery Policy was introduced to attract nearly $6 billion in investment for upgrading existing refineries. The projects aim to produce Euro-V compliant fuels, reduce furnace oil production and strengthen Pakistan’s energy security.
Government Prioritises Refinery Modernisation
During the meeting, Prime Minister Shehbaz said modernising refineries remains essential for reducing reliance on imported fuels. He added that upgraded facilities would improve domestic fuel production while supporting cleaner and environmentally compliant energy.
The prime minister also directed relevant ministries and institutions to ensure the revised policy is implemented without delay. Furthermore, he called for reforms to improve the performance of the Oil and Gas Regulatory Authority (OGRA).
According to the prime minister, stronger regulation, greater transparency and increased competition would encourage investment in Pakistan’s energy sector. Therefore, the government aims to create a more investor-friendly business environment.
Gulf Investors Targeted Under Revised Policy
The government plans to promote the amended refinery policy through investment roadshows in Qatar, Saudi Arabia and other Gulf countries. Officials hope the initiative will attract foreign investment into Pakistan’s refining industry.
Prime Minister Shehbaz also praised Petroleum Minister Ali Pervaiz Malik and his team for finalising the policy amendments. Officials informed the meeting that the revised framework would speed up refinery upgrades and expand production of cleaner fuels.
Additionally, the policy seeks to reduce low-quality petroleum products and support Pakistan’s broader energy reform agenda. The prime minister also directed authorities to increase strategic petroleum reserves to strengthen the country’s long-term fuel security.
