Pakistan, Sept. 2 -- Pakistan's five oil refineries are expected to sign agreements with the government on Sept. 3 to begin a long-delayed modernization program that could unlock around $6 billion in investment, an industry source familiar with the matter told Arab News on Tuesday.

The agreements will bring Pak Arab Refinery Limited, Pakistan Refinery Limited, National Refinery Limited, Cnergyico and Attock Refinery Limited under Pakistan's revamped Brownfield Refinery Upgradation Policy, which is designed to increase production of cleaner fuels and reduce the country's dependence on imported petroleum products.

Officials from the petroleum ministry, Inter State Gas Systems, which develops and implements energy infrastructure projects, ...