If I were really determined to do that sort thing on the command line, I'd probably be inclined to kluge it like this (using a bash shell, of course):

perl -nle '$q="\x27"; /tilda/ && s/\[// && s/\]// && print "insert int
+o mytable values(SEQ_MY_ID.nextval, $q$_$q, ${q}01$q,sysdate,$q$q,$q$
+q)"' report.conf
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But then I'd have to go and wash my hands...