ECC eases rule for oil imports to keep power plants running

ISLAMABAD: In a bid to keep furnace oil-fired power plants running in summer, Prime Minister Shahid Khaqan Abbasi on Tuesday relaxed the condition of international competitive bidding for the import of oil by Pakistan State Oil (PSO).

The emergency situation arose due to an earlier abrupt decision of the prime minister to immediately stop the import of expensive furnace oil in December.

The decision to relax the condition of competitive bidding has been made to keep adequate fuel stocks in coming months, according to a statement issued by the PM’s Office.

In December, the premier had banned the import of furnace oil with immediate effect. However, subsequently, the Power Division said furnace oil stocks were at critical level and there was an urgent need to make imports to bridge the gap between demand and supply.

Published in The Express Tribune, 18th April, 2018