Import of Euro-V compliant petroleum products approved

ISLAMABAD: The Cabinet Committee on Energy (CCOE) on Thursday approved the imports of the import of Euro-V compliant diesel and petrol products.

A CCOE meeting, chaired by Planning Minister Asad Umar, approved the proposals of the Ministry of Energy (Petroleum Division) to allowed imports of diesel and petrol compliant with Euro-V standard as these products have a reduced environmental impact due to lesser sulfur content and lower emissions.

This decision would help reduce the pollution levels, especially the smog problem faced during winters. The petroleum division would 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 August 1, 2020 as the deadline by which all the Oil Marketing Companies (OMCs) would ensure the import of Euro-V compliant petrol only.

The meeting agreed to make the imports of diesel compliant with Euro-V specification from January 2021 based on the availability of supplies.

The CCOE also approved the minimum efficiency benchmarks for captive power plants. The petroleum division had submitted the 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 committee approved the proposals with the direction that the effect of COVID-19 situation might also be taken into account, while setting the deadlines for modernisation/upgradation of the units.

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

The committee directed the power division to maintain regular liaison with the K-Electric regarding future power requirements in Karachi.