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ISLAMABAD: With power sector circular debt touching Rs2.327 trillion as of June 30, 2021, the Cabinet Committee on Energy (CCoE) on Thursday ordered expeditious implementation on oil crisis report including transfer of additional powers to Oil & Gas Regulatory Authority (Ogra) to regulate oil marketing sector. Presided over by Planning Minister Asad Umar, the CCoE also desired a final position of all the stakeholders on allocation of pipeline capacity and tie-in mechanism before the next meeting to secure final investment decisions (FIDs) from investors of two additional merchant LNG terminals. It was noted that discouraging signals were going out to the investors who had paid different fees and made other expenditures so far which was not a good omen.

Asad umarPakistan petroleum refiningPetroleum divisionLaw divisionCabinet committee on energy ccoCabinet committee on legislative casesOil gas regulatory authority ograPetroleum dr arshad mahmoodPower divisionCabinet committeeGas regulatory authorityPlanning minister asad umarSecretary petroleum dr arshad mahmoodDirector generalPakistan petroleumLegislative cases