IN a significant development, Pakistan is set to explore the possibility of importing natural gas and petroleum products from its neighbour, Iran. This move comes at a crucial time when Pakistan is grappling with rising energy demands and supply challenges. Energy Minister Mohammad Ali’s announcement to engage with Iran on this matter holds the promise of offering a cost-effective and sustainable solution to our energy needs.
At present it won’t be wrong to say that the country’s energy sector is in dire straits because of various reasons. Resultantly, our people face frequent gas and power outages. This has also stifled our economic growth. We believe cooperation with the oil and gas rich Iran offers a ray of hope. Iran possesses vast reserves of natural gas and petroleum, making it an ideal partner for Pakistan to secure its energy needs. By exploring Iran’s offer to provide these resources, Pakistan can tap into a more affordable and cleaner energy supply. Natural gas, in particular, is a cleaner and more environment-friendly alternative aligning with global efforts to combat climate change. Furthermore, importing energy resources from a neighbouring country like Iran can enhance energy security for us. It reduces dependence on volatile global energy markets and mitigates the risks associated with supply disruptions. This regional cooperation can foster stability in the energy sector, which is essential for economic growth and social well-being. While pursuing this collaboration, we must also ensure that the terms of the agreements are fair and mutually beneficial. Transparent negotiations and effective management of energy imports will be critical to the success of this endeavour. As a first step, it is important that the project signed several years ago for import of gas from Iran should be executed and accelerated to meet the rising demand of gas whose reserves have seen depletion over the years. Simultaneously given our population size, the demand for energy will continue to increase in the years to come. We have to seriously focus on exploiting the indigenous resources as well to avoid further ballooning of oil and gas import bill.
