The government is committed to modernization through financial incentives and policy reforms in the energy sector.
The country is witnessing significant progress in the energy sector under the Special Investment Facilitation Council.
The SIFC has directed amendment in Brownfield Refinery Policy to bring stability in the energy sector.
The policy amendment aims to make it possible to revive projects by investing six billion dollars in the Brownfield Refineries.
Reforms in sales tax, steps to control smuggling of petroleum products and diesel imports have also been considered.
It has been considered to guarantee the refineries of stability in tax policy for seven years, which can significantly increase in investors’ confidence.
Tax policy reforms will pave the way for upgrading refineries to produce quality fuel.
SIFC’s efforts have established effective communication between the government and the private sector, improving policy implementation.
The progress in energy projects with the support of SIFC will form the basis for stability and sustainable development in the country’s economy.
