Execution of Pakistan Oil Refining Policy: ISGS designated as policy implementation entity

Business Recorder reported that the Petroleum Division has handed Inter State Gas Systems (ISGS) the role of carrying out the refining policy aimed at upgrading existing refineries, as amended in August 2026. The designation was set out in an official notification issued on August 24, 2026. ISGS will act on behalf of the ministry in putting the policy into effect.

The amended policy was cleared by the ECC on July 28, 2026 and later ratified by the Cabinet. Under the policy, refineries can sign Upgrade Agreements with an entity nominated by the Petroleum Division, and a Project Management Unit made up of technical and financial experts is to be set up to support smooth implementation. That unit may instead be placed under another body controlled by the division, with all related costs paid from each refinery's Upgrade Account.

The notification linked the designation to a meeting chaired by the Secretary Petroleum on August 17, 2026. ISGS will handle a set of tasks previously assigned to the division, including signing Upgrade Agreements, opening refinery Upgrade Accounts, monitoring upgrade projects, engaging technical consultants and auditors, and paying incentives from those accounts.