Tag: CCOE

Cabinet Committee on Energy Approves Amendments to Refineries’ Policy

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Parco-board

In a significant development, the Cabinet Committee on Energy (CCoE) has greenlit amendments to the Brownfield Refineries’ Policy, addressing the key demands of private sector oil refineries. The revised policy mandates existing refineries to upgrade within six years to produce Euro-V petrol and diesel, with minimal production of low-quality fuels like furnace oil. During the meeting chaired by Minister for Petroleum and Power Muhammad Ali, four major demands of private sector refineries—Attock, National, Pak-Arab, and Cynergico—were accepted, ending the stalemate in implementing the refining policy since its notification on August…

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Engagement with IPPs: CCoE directs PD to initiate separate case

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cpec

ISLAMABAD: The Cabinet Committee on Energy (CCoE) has directed the Power Division to initiate separate case for engaging with remaining Independent Power Producers (IPPs), including those dealing with hydel power that did not sign the MoUs, official sources told Business Recorder. On January 26, 2024, the CCoE was informed that the Power Division moved a summary titled Implementation of Master Agreements and PPA amendments with Wind Power Producers (WPPs) of May 25, 2023. CCoE considered the summary and directed Power Division to chalk out a new strategy to continue engaging 14…

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Private sector’s participation: Privatisation ministry, Power Div lock horns over Discos’ operations

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Power-generation

ISLAMABAD: Ministry of Privatisation and Power Division have reportedly locked horns on proposed plan of private sector participation in operation of Discos through long-term concessions leading to their eventual privatisation, well informed sources in Privatisation Commission told Business Recorder. Power Division, sources said, has prepared a new proposal for the Cabinet Committee on Energy (CCoE) with respect to Discos’ fate, after withdrawal of plan regarding handing over them to provinces. The sources said, Privatisation Ministry has examined the summary and offered following comments in terms of Rule 8 of Rules of…

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KE expresses its ‘limitation’ towards implementing integration plan

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k-electric

ISLAMABAD: K-Electric has expressed its limitation in implementing the approved integration plan as it is unable to provide feedback on the test-run report. Responding to the test-run report of the CPPA-G, K- Electric has requested separate deliberations with the CPPA-G and on KE integration plan by NEPRA as agreed by CPPA-G. The Cabinet Committee on Energy (CCoE) recently approved the report, which was also ratified by the Cabinet. PM says govt, KE to ensure smooth power supply to Karachi On May 31, 2022, NEPRA’s determination included: (i) grant of MO…

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Taxation dispute delays refinery upgrade deals under new policy

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oil-refinery

KARACHI: The refining sector is struggling to finalize agreements with the government for upgrading their facilities to produce cleaner fuels under a new policy, as a dispute over taxation remains unresolved, sources told The News on Monday. As the deadline for the signing of agreements will expire on January 16, 2024, both sides have to resolve the issue of taxation escrow account. Under the policy, the release from the joint escrow account will be made on a pro rata basis, i.e. a maximum of 25 percent from the escrow account…

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