{"id":50095,"date":"2019-03-01T15:11:55","date_gmt":"2019-03-01T10:11:55","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=50095"},"modified":"2019-03-01T15:11:55","modified_gmt":"2019-03-01T10:11:55","slug":"govt-to-offer-attractive-incentives-to-oil-refineries","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-to-offer-attractive-incentives-to-oil-refineries.html","title":{"rendered":"Govt to offer attractive incentives to oil refineries"},"content":{"rendered":"

Islamabad: The government plans to offer an \u2018unprecedented\u2019 incentives package to companies willing to set up new oil refineries inside the country, a news source reported.<\/p>\n

Read<\/strong>:\u00a0Mari Petroleum invests USD 45mn in oil & gas exploration blocks<\/a><\/p>\n

Interested parties will be exempted from duties, taxes, surcharges, and levies on imported products. They will also be offered a 20-year income tax holiday incentive.<\/p>\n

This package will be applicable to the companies engaged in the import of machinery, vehicles, plants and equipment, and consumables aimed at setting up new deep oil conversion facilities.<\/p>\n

Read<\/strong>:\u00a0Oil terminal to be set up in Port Qasim<\/a><\/p>\n

This incentive facility would also be applicable on existing facilities whose refining capacity has been expanded by installing deep conversion units with a capacity of at least 100,000 barrels per day (bpd) of oil.<\/p>\n

Reportedly, the federal government is making its utmost efforts to upgrade existing oil refineries as well as to establish new deep conversion facilities for achieving self-sufficiency in the petroleum sector.<\/p>\n

Read<\/strong>:\u00a0Agreement finalised to build Aramco oil refinery in Gwadar<\/a><\/p>\n

To facilitate this measure, the government recently banned the import of furnace oil. Moreover, existing oil refineries were asked to enter into commercial agreements with power producers.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad: The government plans to offer an \u2018unprecedented\u2019 incentives package to companies willing to set up new oil refineries inside the country, a news source reported. Read:\u00a0Mari Petroleum invests USD 45mn in oil & gas exploration blocks Interested parties will be exempted from duties, taxes, surcharges, and levies on imported products. They will also be offered a 20-year income tax holiday incentive. This package will be applicable to the companies engaged in the import of machinery, vehicles, plants and equipment, and consumables aimed at setting up new deep oil conversion facilities. Read:\u00a0Oil terminal to be set up in Port Qasim This incentive facility would also be applicable on existing facilities whose refining capacity has been expanded by installing deep conversion units with a capacity of at least 100,000 barrels per day (bpd) of oil. Reportedly, the federal government is making its utmost efforts to upgrade existing oil refineries as well as to establish new deep conversion facilities for achieving self-sufficiency in the petroleum sector. Read:\u00a0Agreement finalised to build Aramco oil refinery in Gwadar To facilitate this measure, the government recently banned the import of furnace oil. Moreover, existing oil refineries were asked to enter into commercial agreements with power producers.<\/p>\n","protected":false},"author":67,"featured_media":39078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[10805],"persona":[],"class_list":{"0":"post-50095","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-govt-to-offer-attractive-incentives-to-oil-refineries"},"acf":[],"yoast_head":"\nGovt to offer attractive incentives to oil refineries - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The government plans to offer an \u2018unprecedented\u2019 incentives package to companies willing to set up new oil refineries inside the country, a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-to-offer-attractive-incentives-to-oil-refineries.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt to offer attractive incentives to oil refineries - 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