ISLAMABAD: According to The News, Prime Minister Shehbaz Sharif is aware of the deadlock surrounding the non-implementation of the Brownfield Policy, which intends to modernize regional refineries to produce gasoline and diesel that satisfies Euro-V standards.
According to a senior Energy Ministry official who spoke to The News, “PM has directed Petroleum Division to hold a meeting with Finance Division, FBR, and Ogra to evolve a consensus in view of differing opinions among stakeholders within two weeks to resolve the sales tax exemption issue.”
A budgetary item in the FY25 Finance Bill that was intended to open the door for a $5–6 billion investment in the refinery industry is the root of the problem.
The FY25 Finance Bill imposed this budgetary provision, which makes $5–6 billion available.
