CPEC: CCOE reviews development plan summary on oil and gas sectors
China Economic Net
Islamabad: Pakistani Cabinet Committee on Energy (CCOE) has reviewed the summary of the Development Plan for the Pakistan Oil and Gas Sector presented by the Petroleum Division to assist the Energy Working Group of China Pakistan Economic Corridor (CPEC).
The CPEC Energy Working Group will finalise its investment for the development of the oil and gas sector of Pakistan, said the officials details shared after the meeting.
The CPEC Energy Working Group will provide a comprehensive database of information on Pakistan’s energy profile, forecast and various planned and agreed energy projects.
“The main objective of the plan is to assist the Energy Working Group of CPEC,” said a government spokesperson.
The committee directed Petroleum Division to define specific policy interventions within 30 days and present them to the CCOE.
The CCOE approved the summary of the Transmission System Constraints Removal Plan presented by the Power Division.
It was informed that the peak transmission capacity of the national grid system in July 2018 was 20,811 Megawatt (MW), and in August 2021 it was 24, 564 MW. In 2023, the transmission capacity will be increased up to 33,500 MW.
The CCOE appreciated the work done by Power Division and directed that in order to implement the ambitious plan the Power Division should keep a track of the developments.
The chair said that once the constraints were removed not only unmet demand would be served in the country but merit order exceptions would also reduce.
The Federal Investigation Agency (FIA) presented the finding report on the status of Inquiry and Investigation on Petroleum Crises.
The meeting of the committee was held here under the Chairmanship of the Federal Minister for Planning, Development, and Special Initiatives Asad Umar. The meeting was also attended by Advisor to Prime Minister Finance Shaukat Tarin, Minister for Energy Omer Ayub Khan, Minister for Maritime Affairs Ali Haider Zaidi, Advisor to PM on Commerce and Industries Abdul Razzaq Dawood and senior government officials.
