US Technology Company Proposes Refinery Upgrade Plan in Meeting with Finance Minister

Finance Minister Senator Muhammad Aurangzeb met with a delegation from US-based Honeywell Technologies to discuss a proposal aimed at modernising and expanding Pakistan’s refinery sector. The meeting focused on enhancing domestic refining capacity, reducing dependence on imported petroleum products, and strengthening the country’s energy infrastructure.

 

According to the Finance Ministry, Honeywell outlined its refinery technology and equipment solutions, while discussions also covered potential financing through the US Export-Import Bank (US Exim Bank), the US International Development Finance Corporation (DFC), export credit agencies, and leading international financial institutions.

 

Aurangzeb said the proposed investment could improve Pakistan’s energy security, support industrial development, and contribute to sustainable economic growth.

 

The meeting took place during the finance minister’s three-day visit to Washington, where he is holding talks with US officials and financial institutions on trade, investment, and economic cooperation. His visit also includes meetings with representatives from the Office of the US Trade Representative (USTR), the US Exim Bank, the DFC, and the International Monetary Fund (IMF) to explore financing opportunities for infrastructure, energy, and private-sector projects.

 

The visit comes as Pakistan and the United States continue negotiations on tariffs, market access, investment, and a broader trade framework aimed at strengthening bilateral economic ties.