WASHINGTON: US technology company Honeywell has proposed a plan to modernise and expand Pakistan’s refinery sector during a meeting with Finance Minister Senator Muhammad Aurangzeb, with the initiative aimed at boosting domestic refining capacity and reducing dependence on imported petroleum products.
The finance ministry said Aurangzeb met a Honeywell Technologies delegation, led by Vice President and General Manager Barry Glickman, on Monday during his visit to Washington.
Finance Minister Meets Honeywell Technologies Delegation, Discusses Refinery Modernization and Energy Security
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with a delegation of Honeywell Technologies led by its Vice President and General Manager, Mr.… pic.twitter.com/N9DAlMZcra
— Ministry of Finance, Government of Pakistan (@Financegovpk) July 20, 2026
The meeting focused on Honeywell’s proposed technology and equipment solutions for upgrading Pakistan’s refinery infrastructure, as well as possible financing options involving the US Export-Import Bank (EXIM Bank), the US International Development Finance Corporation (DFC), export credit agencies and international financial institutions.
Welcoming the proposal, the finance minister said the modernisation and expansion of the refinery sector could play an important role in strengthening Pakistan’s energy security, supporting industrial growth and promoting sustainable economic development.
According to the finance ministry, the proposed initiative has the potential to enhance Pakistan’s refining capabilities and help reduce the country’s reliance on imported petroleum products.
The meeting was held as part of Aurangzeb’s three-day visit to Washington, where he is engaging with US officials, financial institutions and business representatives to explore opportunities for trade, investment and economic cooperation.
During his visit, the finance minister is also scheduled to meet officials from the Office of the US Trade Representative, the US EXIM Bank, the DFC and the International Monetary Fund (IMF).
Discussions with US development and export financing agencies are expected to focus on potential funding opportunities for infrastructure, energy and private-sector projects in Pakistan.
The visit comes amid ongoing Pakistan-US talks on expanding economic ties, including discussions on tariffs, market access, investment opportunities and increased bilateral trade following the global tariff measures announced by US President Donald Trump in April 2025.
