New petroleum policy would help bring positive changes in the energy sector, enabling the country to meet the growing demand of oil and gas by achieving autarky in this sector, renowned expert on energy, Dr Gulfaraz Ahmed said on Thursday.
National Electric Power Authority (Nepra) has announced simplification of license procedures and a major cut in the license fee for small scale renewable energy projects. Private investors intending to set up renewable energy projects with power generation capacity of 500KW would now be required to pay Rs 24,000 while applying for generation licence.
The plan, expected to be approved by Prime Minister Yousuf Raza Gilani soon, contains several suggestions contrary to government policies, like allowing import of second-hand refineries and offering them a tax holiday.
The government will give 10 percent deemed duty to the oil refineries, placing upper cap at 80 dollars and lower cap of 50 dollars per barrel of crude oil in revised formula to upgrade the petroleum products meeting international standards. Advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Hussain confirmed during a press conference here on Thursday.
The private sector companies of Britain are considering to invest in high potential power generation sector in Pakistan to help overcome countrys energy crisis, British High Commissioner in Islamabad, Robert Brinkley said on Friday.
Advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Hussain on Wednesday said that Pakistan is vigorously pursuing TAPI (Turkmenistan-Afghanistan-Pakistan and India) gas pipeline and other gas import projects to meet the growing energy demand of the country.