WASHINGTON: Finance Minister Muhammad Aurangzeb met a delegation of Honeywell Technologies on Monday evening and discussed a proposed plan to modernise and expand Pakistan’s refinery sector.
The proposed plan is part of Islamabad’s broader efforts to strengthen energy security and attract foreign investment in the energy sector.
The Honeywell delegation, led by the company’s Vice President and General Manager Barry Glickman, briefed the minister on technology and equipment solutions for upgrading Pakistan’s refining infrastructure.
According to the Pakistan Embassy in Washington, Mr Aurangzeb welcomed Honeywell’s proposed initiative, saying it could help enhance domestic refining capacity and reduce the country’s dependence on imported petroleum products.
The discussions also focused on possible financing arrangements for the project through the US Export-Import Bank, the US International Development Finance Corporation (DFC), export credit agencies and international financial institutions.
Explores financing options with US Exim Bank and DFC
The finance minister said the proposed refinery modernisation programme could contribute to Pakistan’s energy security, industrial growth and long-term economic development.
The meeting took place during Senator Aurangzeb’s three-day visit to Washington, where he is holding discussions with US officials and financial institutions on trade, investment and economic cooperation.
Earlier on Monday, Pakistan and the US resumed talks on a broader economic partnership, with discussions expected to cover tariffs, market access, investment opportunities and expanding bilateral trade.
During his visit, Mr Aurangzeb is also scheduled to meet officials from the Office of the US Trade Representative (USTR), the US Export-Import Bank, the DFC and the International Monetary Fund.
Meetings with US development and export financing agencies are aimed at exploring opportunities for funding infrastructure, energy and private-sector projects in Pakistan.
The visit comes as Islamabad and Washington continue negotiations that began last week over tariffs affecting Pakistani exports and a possible framework for a broader trade agreement following the global tariff measures announced by US President Donald Trump in April 2025.
Published in Dawn, July 22nd, 2026