ISLAMABAD: The Oil Companies Advisory Council (OCAC) has stated that as representatives of the oil industry, they are working closely with the Ministry of Energy to develop the Refinery Policy 2021, thereby, reducing national dependence on imports and lessening the hit on foreign exchange of the country.

“We appreciate the support of Minister of Energy Hammad Azhar, Secretary Petroleum Dr. Arshad Mahmood, members CCoE, and other stakeholders in working jointly with us to help make a better and cleaner Pakistan,” it states.

The refinery policy draft was discussed threadbare at all forums and it is in the process of approval by relevant authority. This policy, which is expected to be formally approved soon, will attract foreign direct investment (FDI) of billions of dollars, the OCAC states.

The OCAC states, “This is to make known that some fake content titled “Urgent Appeal” is doing rounds on the social media and messaging apps bearing no connection to the oil refinery”.

It further states, “We wish to confirm that the said content is fake, inaccurate, illegal, false, misleading and fabricated. This is an attempt to malign and mar the reputation of the oil industry”.

Copyright Business Recorder, 2021