Pakistan Refinery Limited (PRL) has officially signed an Upgrade Agreement with the Government of Pakistan, represented by Inter State Gas Systems (Private) Limited (ISGS), to modernize its existing refinery operations.

The agreement falls under the framework of the 'Pakistan Oil Refining Policy for Upgrade of Existing/Brownfield Refineries, 2023,' as amended in August 2026. The signing follows formal approval from the Economic Coordination Committee (ECC) of the Cabinet.

PRL joins other major players in the sector, including National Refinery Limited (NRL), Attock Refinery Limited (ATRL), and Cnergyico Pk Limited (CNERGY), who have already executed similar agreements. The move is considered a positive step toward improving the operational efficiency and long-term viability of the local refining sector.