ISLAMABAD (APP) - Oil refineries have expressed inability to meet environmental quality standards fuel with reduced emissions by 2012. No we cannot meet standards by 2012 to phase out environmentally harmful contents as the government did not implement incentives-based package for us and then the circular debt issue, which have created problems manifold for refineries, said executives of oil refineries while briefing Senate Standing Committee on Petroleum and Natural Resources on circular debt owed by the PSO. The committee which met here with Sabir Ali Baloch in the chair decided unanimously to hold a joint meeting with Senate committee on water and power to thrash out concrete proposals to resolve the circular debt issue. Earlier while briefing the committee, Adil Khattak Chief Executive Attock Refinery said the PSO had to pay a total of Rs 95.166 billion to five oil refineries including Attock Refinery Ltd (ARL), National Refinery Ltd(NRL), Pakistan Refinery Ltd(PRL), Pak Arab Refinery Ltd(PARCO) and Byco. He said owing to non-payment of the amount, oil refineries were producing a low capacity-ARL at 88 per cent, NRL at 77 per cent, PRL at 60 per cent, Parco at 65 percent and Byco was running at 50 percent. He said some of the refineries were close to crossing the borrowing limit from banks and not in a position to import crude oil for a long period. Thus, the committee was told the government should resolve the issue of circular debt to enable the refineries to run at full capacity and meet fuel requirements of the country. The committee was informed the refineries had yet to receive amount of the circular debt as announced by the prime minister to be released as immediate solution to energy-related problems. The committee was told the Pakistan Electric Power Company (PECO) was too inefficient to recover dues which stood at Rs 95 billion from private consumers and that lethargic was undermining efforts to resolve circular debt. The chairman underlined the need for adopting a practical approach by working out some workable solution, adding blaming each other did not serve the purpose. Thus, he called upon all the stakeholders to come up with solid suggestions and recommendations in joint meeting to find out a way out and put it forward to prime minister for further action. Besides chairman Sabir Ali Baloch, the meeting was attended by Haroon Khan, Muhammad Jahangir Bader, Nawabzada Mir Haji Lashkar Raisani, Abbas Khan, Mir Mohabat Khan Marri. Officials from Ministry of Petroleum and Natural Resources, Fiance and OGDCL were also present.