Pakistan discusses refinery modernisation, financing options with Honeywell delegation
Finance Minister Aurangzeb says proposed investment could strengthen energy security and reduce reliance on imported petroleum products
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met a delegation from Honeywell Technologies, led by Vice President and General Manager Barry Glickman, to discuss the proposed modernisation and expansion of Pakistan's refinery sector.
During the meeting, Aurangzeb welcomed Honeywell's proposal, saying it could help increase Pakistan's domestic refining capacity and reduce dependence on imported petroleum products.
The two sides also discussed Honeywell's technology and equipment solutions, along with potential financing options through the US Export-Import Bank (EXIM Bank), the US International Development Finance Corporation (DFC), export credit agencies and leading international banks.
The finance minister said the proposed initiative would support Pakistan's energy security, industrial development and sustainable economic growth.
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