Minister stresses new technologies in energy sector

KARACHI: Energy Minister Ayub Khan on Thursday underscored the need of new technologies in the energy sector to promote electric vehicle charging and automation.

“Government is introducing flexible business policies to galvanise innovation and growth in the energy sector,” Khan said during a visit to the Pakistan State Oil (PSO) House.

The minister stressed on embracing new technologies specifically electric vehicle charging and automation in view of the changing business landscape.

The minister lauded PSO’s role during the fuel crisis amid the pandemic when the national flag bearer fulfilled its responsibility by ensuring an uninterrupted fuel supply across the nation. He also appreciated PSO’s environment-friendly fuel initiatives and encouraged further exploration of bio-fuels and cleaner energy solutions.

The meeting was told about the PSO’s operational and marketing performance, regulatory environment, organisational dynamics, strategic thrust, future plans and key achievements including the launch of Euro 5 standard fuels and the establishment of an electric vehicle charging unit in Islamabad.

Pakistan’s first ever National Electric Vehicle Policy 2019 was approved by the cabinet in November 2019. The government claims that it is a forward-looking step needed to deal with climate concerns from transport sector emissions with rapidly rising vehicle use. Duties have been waived under the new EV policy to promote import of vehicles.

During the meeting, value creation plans entailing new ventures and business opportunities including diversification and business integration in refining projects were also discussed.

Special Assistant to Prime Minister on Petroleum Nadeem Babar appreciated the company’s initiatives and said PSO is setting benchmarks and leading the sustainable energy revolution in the country by introducing environment friendly fuel choices.

Babar assured the PSO of its support to infrastructure expansion plans and resolution of key issues.

Secretary Petroleum Mian Asad Hayaud Din acknowledged the PSO’s role in driving the country towards a better future by taking initiatives in line with government’s policies and revolutionising Pakistan’s energy landscape. PSO’s long-term plans also include the exploration of new business avenues to ensure sustainable growth.

PSO Chairman Zafar Usmani reaffirmed PSO’s role as the national flag bearer and leader of positive change in Pakistan.

The company is committed to maximising shareholder value, playing a key role in bringing GOP’s energy sector reforms to fruition, fulfilling its corporate social responsibilities and contributing to the overall progress of the country.