CCoE Approves Six-Month Extension of Refinery Policy
Staff Report
The Cabinet Committee on Energy (CCoE) has approved a six-month extension of the Refinery Policy 2023 regarding the upgradation of existing refineries.
Prime Minister Shahbaz Sharif chaired the meeting of the Cabinet Committee on Energy (CCoE) on Friday.
Prime Minister Shahbaz Sharif’s significant initiative aims to develop the petroleum refineries sector in the country and increase foreign investment in it.Refineries Achieve HSFO Export Target in Just 30 Days
The committee directed the Ministry of Petroleum to take the country’s oil refiners into confidence and prepare a comprehensive plan for upgradation based on their priorities.
The committee was also presented with a detailed report on the electricity sector’s loans from July 2023 to May 2024.
The report stated that the volume of revolving credit in the power sector was 2,655 billion rupees as of May 2024.
The Cabinet Committee approved the Standardized Security Package Document under the Power Policy 2015 for small water projects in the private sector.
The aim of this initiative is to promote private investment in the electricity sector and resolve tariff and other issues quickly.
The Prime Minister decided to address complaints regarding the electricity supply in Gilgit-Baltistan.
The Prime Minister has established a committee to plan the uninterrupted supply of electricity in Gilgit-Baltistan.
The committee approved the establishment of a DISCOs Support Unit to increase the efficiency of electricity distribution companies, prevent electricity theft, and ensure timely collection of bills.
The tenure of the DISCOs Support Unit will be for a period of two years from the approval of the Federal Cabinet.
The DISCOs Support Unit will be initiated with the Multan Electric Power Company (MEPCO).
The committee also approved an incentive package for the recovery of unpaid and overdue electricity bills.
Under this package, rewards will be given to law enforcement agencies and officials of DISCOs for the recovery of unpaid and overdue electricity bills.
