Oil refining policy to be presented to cabinet soon
Senate panel told policy will attract huge investment in refining sector
APP
July 01, 2021
ISLAMABAD:
The Senate Standing Committee on Petroleum was told on Wednesday that the new oil refining policy, which mainly focused on attracting maximum investment in the sector, would soon be presented to the federal cabinet for approval.
The policy would attract huge investment in the oil refining sector by offering tax rebate to the local and foreign investors for up-gradation and establishment of new deep-conversion refineries, Petroleum Secretary Dr Arshad Mahmood informed the meeting.
The maiden meeting of the Senate panel after its reconstitution aimed to get a detailed briefing on the working and performance of the Petroleum Division and its attached departments.
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A meeting of the Senate Standing Committee on Petroleum was informed that about 2.2 million people were associated with oil smuggling in Balochistan. ─ Reuters/File
ISLAMABAD: A parliamentary committee on Monday asked the government to commit a major part of savings from its drive against smuggling of petroleum products through the Iranian border worth over Rs200 billion annually to livelihood projects to avoid any unrest arising out of closure of illegal business of the people involved.
A meeting of the Senate Standing Committee on Petroleum presided over by Senator Mohsin Aziz was informed that about 2.2 million people were associated with oil smuggling in Balochistan because of limited job opportunities.