Govt to upgrade Pakistan Refinery Limited with $1b cost

The government is planning to upgrade Pakistan Refinery Limited with an estimated cost of one billion dollar aims at achieving self-sufficiency in the refining sector and bringing down the oil import bill.

Official sources told APP that we have offered the Chinese government to participate in the PRL up-gradation project, and Chinese companies are interested in it.

At present, they said, around 55 percent needs of diesel and petrol were being met through the import of petroleum products in finished form, while 40 to 45 percent requirements were fulfilled by refining the crude oil at domestic facilities.

The sources said the government was encouraging establishment of new oil refineries and modernizing the existing facilities to meet the country needs indigenously.

Source: Radio Pakistan