ISLAMABAD: Prime Minister Shahbaz Sharif has directed the relevant authorities to increase the country’s strategic reserves of petroleum products, emphasizing the need to safeguard energy security through enhanced stockpiling of fuel supplies.
The directive came during a meeting of the Cabinet Committee on Energy, chaired by the Prime Minister on Tuesday, which approved proposed amendments to the Pakistan Oil Refining Policy 2023.
اسلام آباد: 28 جولائی 2026.
وزیراعظم محمد شہباز شریف کی زیر صدارت کابینہ کمیٹی برائے توانائی کا اجلاس وزیراعظم ہاؤس میں منعقد ہوا۔ اجلاس میں پاکستان آئل ریفائننگ پالیسی, 2023 میں مجوزہ ترامیم کی منظوری دی گئی۔
وزیراعظم نے کہا کہ آئل ریفائنریز کی اپ گریڈیشن وقت کی اہم ضرورت ہے… pic.twitter.com/vgywz8Uf9c
— Prime Minister’s Office (@PakPMO) July 28, 2026
Addressing the meeting, the Prime Minister said upgrading oil refineries was the need of the hour, adding that refineries compatible with modern requirements would help meet the country’s energy needs more effectively.
He said this would also help reduce dependence on imported fuel and ensure the provision of environmentally friendly fuel to consumers.
The Prime Minister directed the Oil and Gas Regulatory Authority (OGRA) to introduce reforms aimed at improving its performance and meeting market requirements, stressing that such reforms should promote competition, transparency, and investment in the energy sector.
During the briefing, participants were informed that upgrading existing refineries was essential to enhance their production capacity. The Prime Minister directed that following the implementation of the new policy, its effective and timely execution must be ensured, warning that no negligence or delay would be tolerated in this regard. He instructed the relevant ministries to accelerate the reform process in consultation with all stakeholders.
The Prime Minister reaffirmed that the government would continue to promote sustainable reforms in the energy sector, adopt modern technology, and take all possible steps to create a conducive environment for investment.
He further directed authorities to increase the strategic reserves of petroleum products and to organize road shows in Qatar, Saudi Arabia, and other Gulf countries to attract investment in the sector.
