Pakistan Oil Refineries faces threat of shutdown

Pakistan Oil Refineries faces threat of shutdown

ISLAMABAD - Pakistan oil refineries are facing a threat of a shutdown as per the latest media report.

The stocks of furnace oil are piling up as imports of the commodity continue and cheaper liquefied natural gas (LNG) keeps being ignored.

The top government functionaries were bewildered by the fact that 200,000 tons of furnace oil was available in Pakistan and it was still being imported for consumption in power plants, reports *Express Tribune.*

Contrarily, furnace oil available domestically is still not being procured from domestic refineries which are on the verge of closure.

In a recent meeting, the Cabinet Committee on Energy (CCoE) had implemented a ban on furnace oil imports and launched an investigation into its imports.