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Islamabad: Special Investment Facilitation Council (SIFC) is actively addressing the challenges faced by the country’s refineries. The council is focusing on modernizing and improving the efficiency of refinery operations to meet the growing energy demands.
According to Ministry of Information and Broadcasting, the SIFC has directed the Petroleum Division to initiate a comprehensive refinery upgradation project. This initiative is part of a broader strategy to enhance the national energy infrastructure and reduce dependency on imported fuels.
One of the key components under consideration in this project is the establishment of a hydrocracker unit. This unit aims to convert Pakistan Arab Refinery Company (PARCO) furnace oil into petrol and diesel, which is expected to significantly boost domestic fuel production. The proposed investment for this hydrocracker unit is estimated at one billion dollars, signaling a substantial commitment to strengthening the energy sector.
The SIFC’s proactive steps in addressing the refinery challenges are seen as critical to ensuring energy security and fostering economic growth in the country. The successful implementation of the refinery upgradation project is anticipated to improve the country’s refining capacity and support sustainable energy solutions.
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