ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved import of furnace oil by Pakistan State Oil (PSO) for power sector to maintain adequate fuel stock in coming months.
The decision was taken in a meeting chaired by Prime Minister Shahid Khaqan Abbasi here at the PM Office.
The ECC approved transportation tariff for Machike–Taru Jabba Oil Pipeline (427 Km) project to be ratified by OGRA after due process.
The project will be completed in three sections and envisages environment-friendly and safe transportation of fuel. The project will also ensure additional storage of fuel and enable supply to major distribution centers in central and northern Punjab and Khyber Pakhtunkhwa.
The ECC directed that all future pipeline projects would require approval of the Cabinet.
To ensure stable and reliable power supply through National Grid System and to enhance capacity of National Transmission and Despatch Company (NTDC), the ECC accorded approval for issuance of the government's sovereign guarantee against financing facility of Rs 9,846 million from local banks for NTDC projects.
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