The Special Investment Facilitation Council (SIFC) will hold an important meeting today (Wednesday) to discuss critical matters concerning Pakistan’s energy sector, including the sale of 35% of gas from new discoveries to third parties, proposed changes in Greenfield Refinery Projects, and the resolution of ongoing issues surrounding Karachi Electric (KE).
One of the key topics will be the review of the Brownfield Refineries Policy, particularly in light of the recent Finance Bill 2024, which introduces changes to import duties, taxes, and levies that could affect refinery operations and upgrades.
The committee will also examine the Exploration and Production (E&P) Policy, alongside the progress on regulatory interventions and the implementation of directives from the Council of Common Interests (CCI) concerning the sale of 35% of gas from new discoveries to third parties. This move has faced opposition from the Sindh Government.
Additionally, the forum will discuss the Trans-Asia (flow) Refinery Ltd’s Greenfield Policy amendments, which allow the use of used equipment for new refineries, as well as the ongoing case of Jamshoro Joint Venture Limited, based on directives issued by the SIFC in October 2024. Another topic of discussion will be options for providing 50 mmcfd gas supply to NSCL.
The meeting will also review the status of offshore oil and gas exploration and the bidding process, as well as a Balochistan High Court decision on revived gas bills, along with appeals to the Supreme Court of Pakistan and a reserved decision at the Sindh High Court over gas tariffs.
Further issues will include the operational continuity of liquid and LPG terminals at Port Qasim, the rationalization of LNG imports versus domestic consumption, and the resolution of problems faced by off-grid Captive Power Industries and on-grid power users still relying on gas as fuel.
In the power sector, the committee will discuss the resolution of the long-standing issues surrounding KE Hydel Projects at the LOI stage and the final recommendations from the Power Division regarding the 47 LOI holders. The meeting will also address the progress of Cat-III wind and solar projects, the IGCEP 24-34 plan, and the approval of the 7.8-MW Riyali Power Plant.
The Secretary of the Power Division will provide updates on several transmission and ancillary services projects, including funding options for the 500kv Ghazi/Barotha-Faisalabad West Transmission Line, the 500kv Matiari-Moro-Rehimyar Khan Transmission Line, 2000 MVAR compensation devices, and the 1000MW Battery Energy Storage System (BESS).
