Pakistan, July 31 -- The Government of Pakistan has approved a set of amendments to the Pakistan Oil Refining Policy 2023, a decision that marks one of the most consequential interventions in the country's downstream petroleum sector in recent years. The amendments are designed to unlock investment in refinery modernisation, enable the production of cleaner fuels and reduce the country's long-standing dependence on imported refined petroleum products.

The reform effort has been led by the Federal Minister for Petroleum, Ali Pervaiz Malik, who has consistently maintained that Pakistan cannot secure its energy future without a refining sector that is modern, efficient and commercially viable. The approved amendments translate that position...