The Cabinet Committee on Energy (CCOE) directed the Power Division to expedite the process of finalizing the renewable energy policy and report back to the CCOE.
Federal Minister for Planning, Development and Special Initiatives Asad Umar chaired a meeting of the Cabinet Committee on Energy (CCOE).
The committee was apprised about the progress on the formulation and approval of the Renewable Energy (RE) Policy and the introduction of a competitive bidding process for the entry of new producers in the renewable energy sector of Pakistan.
The committee also approved the proposals of the Ministry of Power regarding the placement of various project companies in their respective categories on the basis of already specified criteria.
CCOE was apprised about the future trajectory of the country’s energy demand, the steps being taken to ensure the availability of power to various sectors, and the progress being made on rationalizing the energy prices in the country. NEPRA apprised the meeting on the progress made on the introduction of the advanced design of the Competitive Trading Bilateral Market in Pakistan.
CCOE was briefed about steps being taken regarding the governance improvement of the power sector. It was informed that CEOs of AEDB, PPIB, and GENCOs have been appointed following a competitive process, and progress is being made regarding the establishment of a Technical Directorate at the Ministry of Energy.
Ministry of Maritime Affairs submitted its report regarding the enhancement of off-shore storage capacity of imported petroleum products. The CCOE directed the Petroleum Division to examine the financial feasibility of the proposals.
Members of the CCOE including Ministers for Railways Sheikh Rasheed, Minister for Energy Omar Ayub, Minister for Maritime Affairs Ali Zaidi, Advisor on Finance Hafeez Sheikh, SAPM on Petroleum Nadeem Babar, and officials from the Power, Petroleum, Finance, Maritime Division and NEPRA were also present.