Audit firm to supervise upgrade plans of local refineries

ISLAMABAD: Following the directives from Special Investment Facilitation Council (SIFC) about doing away with all hurdles in the implementation of policy on local refineries’ upgradation, the KPMG, which is one of the best audit firms in the country, has been assigned by the government to come up in the current week as to how much the local refineries’ upgrade plans are sound and perfect to qualify for the demands, refineries have put in for the smooth implementation of the refinery policy for upgradation purposes, a senior official of the Energy Ministry told The News. “Refineries want the continuation of the 7.5 percent deemed duty on diesel once the upgradation of the local refineries in 6 years is completed. They also…