ISLAMABAD: The Federal Board of Revenue (FBR) and oil refineries held a meeting here in the Petroleum Division to sort out tax-related issues an imperative part of Pakistan Oil Refining Policy.

In the first week of December 2023, the Cabinet Committee on Energy (CCoE) granted a 60-day extension to oil refineries to meet the deadline given in the Pakistan Oil Refining Policy as refineries have raised many issues which were not properly taken care of in the policy.

The CCoE of August 7, 2023, approved the policy and ratified by the Federal Cabinet on August 9, 2023, Petroleum Division notified the Pakistan Oil Refining Policy and forwarded it to the Oil and Gas Regulatory Authority (OGRA) and refineries for implementation.

Copyright Business Recorder, 2024