Economic Coordination Committee (ECC) of the Cabinet has accorded approval to Pakistan State Oil (PSO) for import of furnace oil to be used by the power sector.  

The meeting of ECC was held in Islamabad on Tuesday under the chairmanship of Prime Minister Shahid Khaqan Abbasi.     

The decision has been made to cater for maintaining adequate fuel stock in the coming months.   

Transportation tariff for 427 km long Machike - Taru Jabba Oil Pipeline project was also approved by the ECC. Tariff will be ratified by OGRA after due process. The project will be completed in three sections and envisages environment friendly and safe movement of fuel.

The project will also provide for additional storage of fuel and enable supply to major distribution centers in central and northern Punjab and Khyber Pakhtunkhwa. The ECC further directed that all future pipeline projects will require approval of the cabinet.   

In order to ensure stable and reliable power supply through National Grid System and to enhance NTDC system capacity, the ECC accorded approval for issuance of Government of Pakistan Sovereign Guarantee against financing facility of 9.846 billion rupees from local banks for NTDC projects.