Connect with us

Hi, what are you looking for?

Economy

Cabinet Committee on Energy approves Pakistan Oil Refinery Policy 2021

CCoE directs Petroleum Division to revisit the upfront incentive package offered to the existing refineries in the country.
Power Division submits a report of the Implementation Committee on the ratification of the IPPs agreement.
Winter incentive package for electricity consumers was submitted by the Power Division and approved by CCoE.

ISLAMABAD: The Cabinet Committee on Energy (CCoE) Monday approved the Pakistan Oil Refinery Policy 2021 and directed the Petroleum Division to revisit the upfront incentive package offered to the existing refineries in the country.

During a meeting held under the Chairmanship of the Federal Minister for Planning, Development, and Special Initiatives Asad Umar, the Petroleum Division presented the summary of Pakistan Oil Refinery Policy 2021 for approval of CCoE.

According to a statement issued by the Ministry of Planning, Development and Special Initiatives, the Power Division submitted a report of the Implementation Committee on the ratification of the independent power producers (IPPs) agreement, under the 2002 Power Policy.

After a detailed discussion, the committee approved the final report of the Implementation Committee and directed the Power Division to proceed with the payments of all 11 IPPs as per the signed agreement except a company whose cases are under investigation at the National Accountability Bureau (NAB).

The statement added that due to the limited availability of natural gas during winters, the consumers need alternative affordable resources for meeting the heating requirements.

Hence, the winter incentive package for electricity consumers from November 1, 2021, to February 28, 2022, was submitted by the Power Division and approved by the CCoE.

The CCoE directed Power Division that K-Electric consumers should also be included in this package.

The Committee further directed the Petroleum Division to submit an inverse gas pricing mechanism for the same months within this week.  

Media person and communication expert for over 25 years. Worked with Dow Jones News, World Bank, CNBC Pakistan, Aaj TV, ARY TV, Abbtakk TV, Business Recorder, Pakistan Observer, Online News Network, TTI Magazine and other local and world Publications.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Facebook

Exclusive

Taliban have also shared a picture of several modern military helicopters which they have captured from Afghanistan. With most modern weapons, now Taliban appear...

International

The Nobel laureate also shared Amnesty International's video on Twitter in which Jolie talks about children under attack from "governments, teachers and parents" who...

Latest Updates

In addition to these two international awards, Farhan Wilayat Butt has also received many other awards in Pakistan and other countries for his dedicated...

Latest Updates

This isn't the first time Faruqi has been critical of the entertainment industry's take on violence against women.

Copyright © 2021 The Truth International