ISLAMABAD: All five refineries are now ready to initiate upgrade projects involving a $6 billion investment after the government addressed their key demand for clearance of their Rs34bn stuck-up funds through petroleum pricing.

The chief executive officers (CEOs) on Tuesday had a meeting with Petroleum Minister Ali Pervaiz Malik to appreciate his proactive role in resolving almost a year-long problem hampering refinery expansion plans, and promised to immediately go ahead with investment plans soon after the budget was provided the matter stood permanently resolved.

Last week, the government........

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