Govt to set up oil refinery with up to $14 billion, claims Musadik
Business
Malik to publicise plan for energy conservation in coming days
ISLAMABAD (Dunya News) - Minister of State for Petroleum Dr Musadik Malik said Prime Minister Shehbaz Sharif on Friday approved a policy to set up an oil refinery with a cost $10-14 billion in the country.
Talking to the media, he said the proposal had been on the government's cards for long but the PM finalised and approved it today. "It is not just a pipe dream," he added.
It would help build a new "energy city" in the country, Mr Malik said.
He went on to say that the government also put an end to a policy that allowed rich industrialists to produce expensive electricity with cheap gas. "People's electricity will be returned to them," he added.
The minister said another scheme was approved that would allow LPG or LNG sellers to deliver gas to people at their footsteps. "It will end the monopoly of housing societies' owners on the production and sale of expensive energy to residents," he added.
Outlining the economic opportunities produced as a result, he said the policy would help grow competition in the society.
The government also inked a comprehensive energy conservation plan to save energy that would be brought before the public in the coming days.
