Govt approves new oil refining policy after years; what does it mean?

ISLAMABAD: After six years of deadlock, the government on Tuesday approved the Brownfield Refining Policy to modernise the country’s petroleum refineries with an estimated investment of about $6bn to improve product quality and increase production. The policy — approved by the Cabinet Committee on Energy (CCoE) led by Prime Minister Shehbaz Sharif — provides stability clauses to protect investment, gives tax incentives and foreign exchange accounts for imports of machinery against export of f...

By none@none.com (Khaleeq Kiani)