Govt all set to establish new oil refinery

April 29, 2023 (MLN): The federal government is all set to establish a new oil refinery to cater to the growing energy needs of the country. The project of a new oil refinery will cost around $10 and $14 billion, Minister of State for Petroleum Musadik Malik informed during a press conference. 

"Prime Minister Shehbaz Sharif has already approved the project of a much-needed refinery during a meeting of the Cabinet Committee on Energy (CCoE)," he added.

He was of the view that the new refinery will create numerous economic opportunities for the masses. 

Pertaining to the import of oil from Russia, he said that the present government has secured a deal with Russian authorities and the country will soon receive the first cargo of low-price oil from Russia. 

He also informed that the government will not provide cheap gas to power plants anymore as it will start providing 50 million cubic feet per day (MMCFD) of gas to poor households.

In order to abolish the monopoly of a handful of companies, the government had to take this decision, he noted. 

The prime focus of the government is to provide affordable energy by utilizing liquified natural gas (LNG), liquefied petroleum gas (LPG), and solar, he said further. 

He also advised the general public to adopt an energy conservation culture. 

Copyright Mettis Link News