Govt plan­ning eco-friendly pe­tro­leum prod­ucts: Qa­mar

Econ­omy pos­i­tive for last cou­ple of years

The Financial Daily - - NATIONAL -

ISLAMABAD: Fed­eral Min­is­ter for Wa­ter and Power and Pri­vati­sa­tion, Syed Naveed Qa­mar has said that clean en­vi­ron­ment is pri­or­ity of the gov­ern­ment and the newly com­pleted low-sul­phur con­tent pe­tro­leum pro­ject of PakArab Re­fin­ery Com­pany (PARCO) will greatly con­trib­ute to­wards a greener en­vi­ron­ment in the coun­try.

He said this while pre­sid­ing over 128th board meet­ing of Pak Arab Re­fin­ery (PARCO) held Wed­nes­day.

Syed Naveed Qa­mar is Chair­man of the PARCO Board and the meet­ing was also at­tended by the Direc­tors of the Gov­ern­ment of Pak­istan and Abu Dhabi.

He said that the gov­ern­ment has planned en­vi­ron­ment friendly pe­tro­leum prod­ucts and all the re­finer­ies have been asked to meet the EURO-II re­quire­ments, which is an

here

on In­ter­na­tional stan­dard. He ap­pre­ci­ated the PARCO for com­plet­ing this en­vi­ron­ment friendly pro­ject.

The board re­viewed the op­er­a­tional, fi­nan­cial and HR progress of the com­pany.

The man­age­ment an­nounced the suc­cess­ful com­mis­sion­ing of the Diesel Hy­dro Desul­phuri­sa­tion (DHDS) pro­ject which was com­pleted well be­fore time and within the al­lo­cated budg- et.

This pi­o­neer­ing pro­ject will make PARCO the only re­fin­ery in Pak­istan pro­duc­ing en­vi­ron­ment friendly fuel.

It may be noted here that the DHDS pro­ject aims at meet­ing the in­ter­na­tional stan­dards by re­duc­ing sul­phur con­tent in High Speed Diesel. The DHDS plant at Mah­mood Kot, Muz­za­far Garh is equipped with a max­i­mum ca­pac­ity of 26,000 bar­rels per day, and re­duces sul­phur con­tents in High Speed Diesel from 7,000 parts per mil­lion to 500 parts per mil­lion which is an EURO-II re­quire­ment.

The fu­ture plans of the com­pany were also dis­cussed and an up­date on the new As­phalt Pro­duc­tion pro­ject pre­sented. The meet­ing noted with sat­is­fac­tion the con­tin­ued progress of the com­pany and ap­pre­ci­ated the PARCO team.-APP ISLAMABAD: De­spite sev­eral do­mes­tic and in­ter­na­tion­alchal­lenges, the coun­try's econ­omy is grad­u­ally mov­ing to­wards build­ing ba­sis on sound foot­ings as sug­gested by the eco­nomic in­di­ca­tors.

Not only the coun­try's for­eign ex­change re­serves reached an all time high of $17.38 bil­lion be­cause of huge re­mit­tances sent by over­seas Pak­istan, the other eco­nomic in­di­ca­tors have shown pos­i­tive growth dur­ing the pe­riod, sources in the Min­istry of Fi­nance said while com­ment­ing on the three-year per­for­mance of the cur­rent gov­ern­ment.

The gov­ern­ment has been fo­cus­ing on `New Growth Strat­egy' with an aim to raise growth above its his­tor­i­cal av­er­age of 4.9 per­cent, source said adding main ar­gu­ment in the new growth frame work is that growth should be mar­ket-led and not gov­ern­ment-led.-APP

ISLAMABAD: Fed­eral Min­is­ter for Wa­ter and Power pri­vati­sa­tion, Syed Naveed Qa­mar pre­sid­ing over 128th board meet­ing of Parco.-APP

ISLAMABAD: A group pho­to­graph of Afghan Par­lia­men­tary Del­e­ga­tion with Deputy Chair­man Se­nate, Jan Muham­mad Khan

Ja­mali and Deputy Speaker Na­tional Assem­bly Faisal Karim Kundi at Par­lia­ment House.-APP

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