ISLAMABAD – The chief executive officers (CEOs) of Pakistan’s leading oil refineries expressed their appreciation to the federal government for resolving the long-standing sales tax issue that had been hampering growth and stability in the refining and oil marketing sectors.
During a high-level meeting held on Tuesday with Federal Minister for Petroleum, Ali Pervaiz Malik, the refinery heads acknowledged the critical step as a turning point for the industry.
According to an official statement, the CEOs recognized the government’s consistent support for enhancing Pakistan’s energy security, especially through a committed push toward refinery upgrade projects estimated at over $6 billion. These upgrades are intended to modernize the country’s refining infrastructure, enabling local refineries to produce higher-quality fuels in compliance with international standards.
The resolution of the sales tax issue has been hailed as a major breakthrough, providing much-needed clarity and creating a more predictable and investor-friendly policy framework. The executives specifically commended the active involvement of the Petroleum Minister and the leadership of the Prime Minister in addressing the refineries’ challenges.
They also reiterated their support for the government’s vision of energy modernization, including efforts to reduce emissions, improve fuel efficiency, and transition toward cleaner energy alternatives. The CEOs emphasized their commitment to implementing refinery upgrades that align with environmental and economic objectives.
Speaking at the meeting, Petroleum Minister Ali Pervaiz Malik affirmed that resolving the sales tax concern was part of a broader government strategy to strengthen the refining sector. “A robust and modern refining industry is crucial to achieving national energy independence,” he said, adding that continued policy stability is essential to secure investor confidence and ensure long-term viability of refineries.
The upgraded refineries are expected to reduce reliance on imported fuels, increase local fuel quality to Euro-V standards, and support environmental sustainability. The initiative also positions Pakistan to attract foreign investment, boost domestic production capacity, and contribute to economic resilience.
The meeting was attended by Zahid Mir (CEO, Pakistan Refinery Limited), Irtiza Qureshi (MD, PARCO), Adil Khattak (CEO, Attock Refinery), Amir Abbasi (CEO, Cynergico), and Asad Hasan (CEO, National Refinery Limited), all of whom appreciated the government’s resolution of the critical sales tax issue affecting refineries.