The Cabinet Committee on Energy (CCoE) approved the extension of six months in the Refinery Policy 2023 regarding the upgradation of the existing refineries.
Prime Minister Shehbaz Sharif presided over the CCoE’s meeting on Friday to review the reform process in the power sector, circular debt, and refinery policy upgradation among other important agenda items.
The committee directed the Ministry of Petroleum to take into confidence the oil refineries established in the country and prepare a comprehensive plan for their upgradation on a priority basis.
The committee was also presented with a detailed report on the circular debt of the power sector from July 2023 to May 2024. The report stated that the volume of the power sector’s circular debt stood at Rs 2.655 trillion till May 2024.
The committee also approved the Standardised Security Package Document under the Power Policy 2015 for small water projects of the private sector. This initiative is aimed at promoting private investment in the electricity sector and quickly resolving the tariff and other issues.
The prime minister decided to resolve complaints regarding the electricity supply to Gilgit-Baltistan. He constituted a committee to prepare a plan of action to ensure the uninterrupted supply of electricity in Gilgit Baltistan.
The committee also approved setting up a support unit with a two-year tenure to increase the efficiency of electricity distribution companies, prevent electricity theft and timely collection of bills.
After the Federal Cabinet’s approval, the first support unit would be established for the Multan Electric Power Company (MEPCO).
The committee also approved an incentive package for the recovery of unpaid and overdue electricity bills.
Under the package, rewards would be given to the personnel of law enforcement agencies and officials of DISCOs for the recovery of unpaid and overdue electricity bills.
The meeting was attended by Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, federal ministers Ahad Khan Cheema, Muhammad Aurangzeb, Dr Musadik Malik, Ahsan Iqbal and Sardar Awais Ahmad Khan Leghari, Minister of State Ali Pervaiz Malik, Coordinator to the PM Rana Ehsaan Afzal, NEPRA Chairman Waseem Mukhtar, OGRA Chairman Masroor Khan, and other high officials.
