Rs1.6tr investment made in oil, gas exploration: Khaqan

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No ban on domestic gas connections

Islamabad—The National Assembly was informed on Wednesday that efforts have been accelerated to enhance domestic exploration of oil and gas. Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi told the House during question hour that despite decrease in the prices of petroleum products at the international level, Pakistan is expected to receive investment in the oil and gas sector, which will help explore the indigenous resources of the country.
The Minister said the local production of crude oil has surged to one hundred thousand barrel per day which meets 15 percent requirements of the country. He said the country has received an investment of 1.6 trillion rupees in oil and gas exploration. He said that exploration activities have expedited especially in Khyber-Pakhtunkhwa province, which has led to some important discoveries.
He said the government is encouraging the investors to establish new refineries in the country. He said the establishment of refineries in Balochistan and Karachi will help reduce import bill of refined products. The Minister said there is no ban on the domestic gas connections. He said the matter of gas shortage has been overcome to a great deal and today the consumers are being provided with the gas on full time basis.
He said a comprehensive strategy is being devised in consultation with gas utility companies to ensure supply of gas to domestic and commercial sectors during the coming winter season. He said with the injection of gas from new discoveries and establishment of second LNG terminal, the situation of gas demand and supply would be in a better position for winter of 2017-18. Minister for Parliamentary Affairs Shaikh Aftab Ahmad told the House that the Prime Minister has recently approved a package to revive Pakistan Post.—Agencies

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