Staff Report
ISLAMABAD:
Minister for Energy, Hammad Azhar has requested the Minister for Finance and Revenue, Shaukat Tarin for a meeting mainly to make some incentives for refineries part of the Finance Bill 2021-22.
Additional Secretary, Ministry of Energy (Petroleum Division), Haroon Rafique in a letter dated 18th June, 2021, has asked Minister for Finance and Revenue to give time for a meeting to discuss some incentives which Power Division desired to be included in the Finance Bill 2021-22 though certain incentives are already made part of the Finance Bill 2021-22.
The Petroleum Division has formulated a draft policy titled ‘Pakistan Refining Policy’ for the survival and up-gradation of existing refineries as well as to improve end product specifications to Euro-V and attracting new state of the art deep conversion refineries. The said draft policy contains government’s fiscal support and tariff protection formula.
The ministry appreciates the support and sincere efforts which enabled certain incentives to become part of the Finance Bill 2021-22. However, some incentives are still required to be included in the Finance Bill 2021-22, therefore, Minister for Energy, along with his team, would like to have a meeting with the Minister for Finance and Revenue for deliberation on the matter. Accordingly, it is requested that a convenient time preferably on 21st June 2021 may please be indicated, said Petroleum Division’s letter.
Sources said that a meeting between Energy Minister and Finance & Revenue Minister is expected today (Monday) to reach on a concensus on the mattaer of more incentives in Finance Bill 2021-22 for refineries of the country.
