ISLAMABAD: Pakistan Federal Minister for Finance and Revenue Muhammad Aurangzeb met with a Honeywell Technologies delegation, led by Vice President and General Manager Barry Glickman, in Washington to discuss investment opportunities in Pakistan's energy sector.
According to a statement issued by the Ministry of Finance on Tuesday, the finance minister welcomed Honeywell's proposed investment in the modernization and expansion of Pakistan's refinery sector.
The minister said that the initiative would enhance the country's domestic refining capacity and help reduce reliance on imported petroleum products.
The meeting focused on Honeywell's advanced refining technologies, equipment, and solutions aimed at upgrading Pakistan's refinery infrastructure to improve efficiency and production capacity.
The two sides also discussed potential financing options for the proposed project, including support from the US Export-Import Bank, the US International Development Finance Corporation, export credit agencies, and international financial institutions.
Aurangzeb said the proposed investment would contribute significantly to Pakistan's energy security, industrial development, and sustainable economic growth, reaffirming the government's commitment to attracting high-quality foreign investment in strategic sectors.
Honeywell Technologies is a global, pure-play automation leader formed from the restructuring of Honeywell International. It specializes in building automation, process control technologies, and digital intelligence solutions to help facilities, data centers, and manufacturing plants enhance their energy efficiency and operational autonomy.
