Islamabad: Federal Minister for Commerce Jam Kamal Khan engaged in discussions with a delegation from SPEC Refinery Pvt Ltd about Pakistan’s inaugural Deep Conversion Greenfield Refinery Project in Hub, Balochistan. The project, valued at $4.5 billion, is expected to enhance the country’s energy security and contribute to industrial growth by creating approximately 2,000 jobs.

According to Press Information Department, the meeting highlighted the strategic importance of the refinery in reducing reliance on imported refined petroleum products and fostering industrial development. The refinery is designed to use advanced technology to maximize high-value petroleum product output, processing diverse crude oil grades from international sources.

The delegation sought governmental support for the Greenfield Refinery Policy and the expedited issuance of necessary regulatory approvals from the Federal Board of Revenue to ensure timely project execution. The project is poised to stimulate downstream petrochemical industries and has already seen groundwork initiation, with future implementation strategies underway.

Chairman Zafar Sheikh underscored the project’s potential to drive regional economic development, enhance skills, facilitate technology transfer, and spur industrial growth. Minister Khan welcomed the investment, noting Pakistan’s strategic location and market potential as conducive to large-scale industrial and energy projects. He emphasized the government’s commitment to facilitating investments that promote economic growth and industrial modernization.

The meeting concluded with both parties recognizing the importance of public-private collaboration to accelerate investment and unlock Pakistan’s economic potential, with a focus on sustainable growth and national development.