Miftah proposes tax exemption on setting up deep conversion oil refineries

ISLAMABAD: Minister for Finance Dr Miftah Ismail Friday gave a proposal of 10-year tax exemption for setting up deep conversion facilities, having minimum capacity of refining 100,000 barrels per day (bpd) oil, to meet growing energy needs of the country.

Presenting Federal Budget for the year 2018-19, he also suggested extending such exemption to existing refineries where refining capacity was expanded by installing deep conversion units with capacity of at least 100,000 barrels per day.?