The government has directed local refineries to prioritize domestic production of petroleum products, aiming to reduce the country’s reliance on imports and stabilize the economy.
The directive comes as Pakistan struggles with a significant trade deficit, largely due to the high cost of importing petroleum products. By increasing local production, the government hopes to reduce the burden on the national exchequer and promote economic stability.
The refineries have been instructed to optimize their production processes and improve efficiency to meet the growing demand for petroleum products in the country.
Industry experts have welcomed the move, stating that prioritizing local production will not only reduce reliance on imports but also create jobs and stimulate economic growth.
However, the experts also highlighted the need for investments in refinery upgrades and modernization to ensure that local production meets international standards and is competitive in the global market.
The government’s directive is seen as a step in the right direction towards achieving energy self-sufficiency and reducing the country’s reliance on imported petroleum products.
Story by Zafar Bhutta
