Islamabad: Significant progress has been made in Pakistan’s energy sector, thanks to the joint efforts of the SIFC (Strategic Investment Facilitation Council) and ECC (Economic Coordination Committee). The ECC has approved a framework for the settlement of Suner Jeco’s petroleum levy liabilities, enabling the Petroleum Division to sign the agreement.
This decision will allow Suner Jeco to implement the Brownfield Refining Policy under the Ogra agreement, which will pave the way for the upgrading of refineries and the production of Euro-5 fuel. This policy aims to reduce reliance on expensive imports, a key step in meeting Pakistan’s energy needs.
Industry experts have termed this decision a “game-changer,” with expectations of a 6 billion USD investment, which is expected to play a crucial role in the development of the energy sector.
