CCoE to discuss Oil Refining Policy 2023

By MG News | August 02, 2023 at 11:59 AM GMT+05:00

0:00

August 02, 2023 (MLN): The Cabinet Committee on Energy (CCoE) of the Cabinet, in its meeting which is scheduled to be held on Monday, August 07, 2023, will discuss the Draft Pakistan Oil Refining Policy 2023 for the upgradation of existing / brown refineries.

The objectives of the Refining Policy are to provide the enabling environment for the long-term sustainability of the existing refineries (a separate policy is being issued for existing refineries) and to attract foreign investment in new refinery projects.

To attract the required investment for setting up a deep conversion refinery (maximizes production of white products, Diesel & Motor Gasoline, and eliminates or minimizes Furnace Oil production) and petrochemical complex, potential investors seek incentives/commitments prior to investment decisions.

The government, through this Policy, is providing necessary incentives/facilities to attract investment in this sector.

The committee will also review the National Electricity Plan 2023-27 for the power division.

In addition, the meeting will discuss the implementation status of master agreements and PPA amendments with Wind Power Producers (WPPs).

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