Pakistan, Honeywell explore refinery upgrade to boost energy security

MG News | July 21, 2026 at 10:29 AM GMT+05:00

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July 21, 2026 (MLN): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held talks with a delegation from Honeywell Technologies, led by Vice President and General Manager Barry Glickman, to explore opportunities for modernizing and expanding Pakistan’s refinery sector.

During the meeting, the finance minister welcomed Honeywell’s proposal to upgrade the country’s refining infrastructure, saying the initiative could significantly boost domestic refining capacity and help reduce Pakistan’s dependence on imported petroleum products.

The discussions focused on Honeywell’s advanced refining technologies and equipment, along with possible financing options through the U.S. Export-Import Bank (EXIM Bank), the U.S. International Development Finance Corporation (DFC), export credit agencies, and leading international financial institutions.

Muhammad Aurangzeb said the proposed refinery modernization project would contribute to strengthening Pakistan’s energy security, support industrial growth, and promote long-term sustainable economic development.

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