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ISLAMABAD: A meeting of the Cabinet Committee on Energy (CCOE) has approved in principle, the import of Euro-V compliant diesel and petrol products.

The meeting was held here on Thursday under the chairmanship of Federal Minister for Planning, Development and Special Initiatives.

The CCOE approved the proposals of the Ministry of Energy (Petroleum Division) to make imports of diesel and petrol compliant with Euro-V standard.

These products will have a reduced environmental impact due to lesser sulphur content as well as lower emissions.

This decision would help reduce the pollution levels, especially the smog problem faced in country's plain areas in winters.

The Petroleum Division would also work with the inland refineries to make them compliant with the Euro-V standard by the end of this year.

The CCOE decided to set 1st of August 2020 as the deadline by which all the OMCs will be required to ensure import of Euro-V compliant petrol only.

The CCOE also agreed to make all imports of diesel compliant with Euro-V specification w.e.f. January 2021 based on availability of supplies.

The Ogra and OCAD would work together to work out a detailed mechanism in this regard.

The CCOE also approved the minimum efficiency benchmarks for captive power plants.

The Petroleum Division in its summary submitted proposals to set minimum efficiency benchmarks for captive power units whether in single cycle or combined cycle using natural gas as a primary fuel.

The CCOE approved the proposals with a direction that the effect of Covid-19 situation may also be taken into account, while setting the deadlines for modernization/upgradation of units.

The CCOE also took an overview of the possible supply and demand situation of electricity in Karachi and measures to address any shortfall in future.

The CCOE directed the Power Division to maintain regular liaison with K-Electric with regard to Karachi's future power requirements.

The meeting was attended by Federal Minister for Information and Broadcasting Shibli Faraz, Minister for Energy Omar Ayub Khan, Minister for Railways Sheikh Rasheed, Minister for Maritime Affairs Ali Zaidi, Advisor Finance Hafeez Sheikh, SAPM on Petroleum Nadeem Babar, SAPM on Mineral Resources Shahzad Qasim, and officials of various divisions, the NEPRA, and the NTDC.

Copyright Business Recorder, 2020