Abbasi says country to achieve 6pc growth rate

p08.jpg

Masroor Afzal Pasha

Karachi

Prime Minister Shahid Khaqan Abbasi has said that the government is doing all-out efforts to increase the country’s economic growth and hopefully we are able to touch a growth rate of 6 percent.
He expressed his views while addressing the functioning of the White Oil Pipe Project, built under Port Qasim Pak Arab Pipeline Company Limited here on Friday.
The White Oil Pipeline Project is of a very sensitive nature and its completion will reduce the prices of petroleum products. This pipeline will also be able to carry petrol along with diesel, and through pipeline 255,000 metric tons of Petrol and Diesel would be stored. Pakistan will not be able to import furnace oil, he added.
Prime Minister Shahid Khaqan Abbasi said that the White Pipeline Project will be completed in May 2019. This project will be completed at a cost of Rs 15 billion in 20 months time. The White Oil Pipe Line project will help to store 255,000 metric tons of additional Petrol and Diesel storage.
At present 10,000 tankers are part of oil transportation systems, which are used in the delivery of petroleum products, he said, adding that there was a danger of accidents due to a large number of tankers and the accident near Bahawalpur is a tragic example.
Abbasi said that the White Oil Pipeline is a very sensitive and a key project for Pakistan’s energy delivery. The completion of this project will reduce prices of petroleum products, he said, adding that the government is focusing on energy projects and to strengthen the economy of the country, the system of petroleum transportation would be improved.
Presently, Abbasi said about 1850 kilometres of highways under construction in the country. After completion of these projects, the communication system of the country will further be improved, he added.
Abbasi said the consumption of petrol in the country is 20 percent and its growth is increasing at 12 percent annually. Therefore, the government is keen to improve the supply of petroleum products by using modern facilities in its delivery system.
Today, the country is using better quality diesel as compare to past, he said, adding, that the CPEC project expected to help increase country’s economic growth rate.
The Prime Minister said that in the past Pakistan was the second largest importer of furnace oil. Now the furnace oil will not be imported, which will save billions of dollars of foreign exchange.
They said that the transporters are not worried about the problems. Pre-existing transporters will be part of the second-generation petroleum products delivery system.

Share this post

PinIt
    scroll to top