ISLAMABAD: Pakistan’s oil refineries on Sunday warned that a recent government decision to change petrol pricing rules threatens a planned $6 billion modernization of the country’s refining sector, saying the move could undermine investment and risks rendering operations unviable. The petroleum ministry on Friday directed refiners to surrender price differentials under a formula based on March 7 benchmarks, imposing an additional financial burden of up to Rs49 ($17. 5) per liter on locally prod
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