Daily Times

The Cabinet Committee on Energy (CCoE) on Friday reviewed the draft of Pakistan Oil Refinery Policy 2021 and directed the petroleum division to consider recommendations of the committee in the draft and submit it in the 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 the petroleum division would deliberate on the suggestions and re-submit the draft policy for consideration of CCoE in its next meeting.

The petroleum division presented an update to CCoE on the 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 the 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.

The power division briefed the committee on issues hampering the progress of the transmission line providing interconnection to the 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. The 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 the 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, and Special Assistant to Prime Minister (SAPM) on Power, Petroleum Tabish Gauhar, and SAPM on Revenue Dr Waqar Masood.

Representatives of regulatory authorities and senior officials of ministries/divisions also participated in the meeting.