Associated Press of Pakistan
ISLAMABAD: The Committee on Blending of Ethanol for motor vehicles and Bio-fuel technology held its first meeting under the convenorship of Zaka Ashraf, President Zarai Taraqiati Bank Ltd (ZTBL) here on Wednesday.
The high powered committee was constituted by the President of Pakistan Asif Ali Zardari, said a ZTBL press release.
The Convener of the Committee Zaka Ashraf apprised the committee members that the President of Pakistan was very much keen to blend ethanol for motor vehicle as ethanol derived from molasses and other crops can be a better substitute for oil.
The surging import bill on oil can be reduced through the promotion of this new initiative as substitute for motor vehicles oil and it can save the foreign exchange of estimated 500 million dollars.
He also said that rising cost of oil and low cost of ethanol and bio-fuel technology have created favourable economic conditions for fuel-ethanol production for our vehicles.
The committee deliberated in detail on the use and promotion of Ethanol as viable substitute for oil in Motor vehicles as it was being used all over the world as renewable source of energy.
The meeting was attended by Dr Asim Hussain, Advisor to PM, Senator Ahmed Ali, Secretary Industries, Secretary Petroleum, Member Planning and DG, Hydrocarbon Development Institute of Pakistan.