CCOE reviews draft of Pakistan Oil Refinery Policy 2021

19

 

Staff Reporter
Islamabad

The Cabinet Committee on Energy (CCoE) Friday reviewed the draft Pakistan Oil Refinery Policy 2021 and directed the Petroleum Division to con-sider recommendations of the committee in the draft and submit it in next meeting for approval.

The meeting of the committee was held here under the chairmanship of Minister for Planning, Development and Special Initiatives Asad Umar.

Petroleum Division submitted that the purpose of the policy was to attract investment in new deep conversion refineries as well as for up-gradation of existing refineries. Members of the committee made a number of suggestions on the draft policy.

It was decided that Petroleum Division would deliberate on the suggestions and re-submit the draft policy for consideration of CCoE in its next meeting. Petroleum Division presented an update to CCoE on Pakistan Stream Gas Pipeline Project.

The update included details of head of shareholders agreement terms, funding arrangements, completion of technical studies and regulatory approvals.

the CCoE directed Petroleum Division to ensure timely completion of various actions so that delays are avoided.

The CCoE approved the proposal of the Power Division for eliminating the need for generation licenses for small-scale RE-based systems (upto 25 kW) for net metering. The measure will greatly facilitate consumers who wish to install small-scale solar systems for their homes and businesses and avail the facility of net metering.

Power Division briefed the committee on issues hampering the progress of transmission line providing interconnection to 660 MW LEPCL Power Plant. The committee was informed that all the technical issues had been examined and resolved

. The committee noted that there were no restraining orders from any legal/regulatory forum regarding the execution of the project. The committee, therefore, directed that the project activities be carried out without any delay.

Power Division also presented the circular debt report from July 2020 to June 2021. The committee noted that the circular debt build-up had substantially reduced in comparison to the previous year.

The committee appreciated the improvement in the recoveries and directed Power Division to continue with its efforts for reduction of Circular Debt.

The meeting was attended by Minister for Interior Sheikh Rashid Ahmed, Minister for Energy Hammad Azhar, Minister for Maritime Affairs Ali Zaidi, Special Assistant to Prime Minister (SAPM) on Power, Petroleum Tabish Gauhar, and SAPM on Revenue Dr Waqar Masood.

Previous articleFPCCI sets up 5 facilitation centres for Afghan traders
Next articleSyngenta organizes plantation drive