The federal government of Pakistan has decided to shift the quality and standard of petrol and diesel from EURO-2 to EURO-5. The decision was taken in the federal cabinet meeting which was headed by Prime Minister Imran Khan who approved for the higher-quality fuel standards in Pakistan.
According to Malik Amin Aslam, Prime Minister’s Adviser on Climate Change , the premier had promised to increase the quality of petrol and it has been fulfilled. Malik Amin Aslam said the petrol will be shifted to EURO-5 standards from the 1st of August, whereas diesel standard will be uplifted from January 2021.
Pakistan meets most of its high-speed diesel requirement through production by domestic refineries and imports to fulfill the demand annually. Import of Euro-II high-speed diesel commenced in January 2017.
PSO’s share in high-speed diesel import is around 55% that meets 22% of the country’s total consumption, which is primarily sourced from Kuwait Petroleum through a government-to-government contract spanning more than 40 years.
Pakistan meets 30% of its annual petrol requirement through domestic refineries and imports around 70% of the need.
Ogra would finalise price calculation in that regard in consultation with oil refineries and PSO so that any undue advantage to the refineries producing fuel below Euro-V standard could be avoided, the Petroleum Division added.
It said mixing of imported and locally produced grade by the refineries and OMCs may be allowed as it would improve overall specification of the product.