The Cabinet Committee on Energy has approved proposed amendments to the Pakistan Oil Refining Policy 2023, as Prime Minister Shehbaz Sharif instructed authorities to accelerate energy sector reforms, modernise domestic refineries and expand the country's strategic petroleum reserves.

Chairing the committee meeting, the prime minister emphasised that upgrading Pakistan's oil refineries is essential to meeting rising energy demand and strengthening long-term energy security. He said modern refining facilities would reduce reliance on imported petroleum products while enabling the production of cleaner, environmentally friendly fuels.

Shehbaz directed the relevant ministries to ensure the revised refining policy is implemented without delay, warning that any negligence or unnecessary delays would not be tolerated. He also instructed officials to continue consultations with all stakeholders to ensure the smooth execution of the reforms.

Officials informed the meeting that modernising existing refineries would significantly enhance domestic refining capacity, improve fuel quality and strengthen Pakistan's overall energy infrastructure. The government believes these upgrades will reduce dependence on imported refined fuels and improve the country's energy resilience.

The prime minister also called for reforms within the Oil and Gas Regulatory Authority (OGRA) to improve regulatory efficiency and better align the sector with evolving market needs. He said the reforms should encourage competition, increase transparency and create a more attractive environment for private-sector investment.

Reaffirming the government's commitment to sustainable energy reforms, Shehbaz highlighted the importance of adopting modern technologies and maintaining investor-friendly policies to support long-term growth in the energy sector.

To further enhance national energy security, the prime minister directed authorities to increase Pakistan's strategic petroleum reserves. He also instructed officials to organise investment roadshows in Qatar, Saudi Arabia and other Gulf countries to attract foreign investment into Pakistan's energy industry.