Pakistan, Sept. 2 -- Pakistan is set to sign agreements with five oil refineries on Thursday for planned investments exceeding $6 billion. The projects aim to modernise ageing plants and increase local petrol and diesel production. The agreements involve Pak-Arab Refinery Ltd. (Parco), Pakistan Refinery Ltd. (PRL), National Refinery Ltd. (NRL), Cnergyico and Attock Refinery Ltd. (ARL). A senior Petroleum Division official said the agreements were being finalised. The official said the signing parties were ready for the agreements.

Read More: Five refineries set to sign $6 billion upgrade agreements: source

The government has authorised Inter-State Gas Systems (ISGS) to sign the agreements. ISGS will also oversee their implementation. Th...