ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin on Tuesday directed the removal of obstacles in the formulation of the new Draft Oil Refining Policy, 2021.

According to press statement issued by the finance ministry, Mr Tarin was chai­ring a meeting to review progress on Draft Pakistan Oil Refining Policy, 2021.

“Prime Minister is very keen about progress in all sectors of the economy for sustainable growth,” the finance minister said, adding the energy sector was indeed very crucial to keep the cycle of economy moving with ever growing momentum.

Oil refineries in Pakistan have been pillar of energy security of the country and now the government wants the domestic oil refineries to upgrade themselves at par with international standards, he added.

Modernisation, efficiency and environment friendliness should be common characteristics of all oil refineries in Pakistan and the government was willing to extend all support permitted under law and policy framework to this effect.

On the occasion, the representatives of oil refineries said the industry was very happy due to the support and patronage provided by the government.

Published in Dawn, July 23rd, 2021