Prime Minister Shehbaz Sharif in Islamabad, a delegation of both domestic and foreign enterprises involved in petroleum and gas exploration and production announced a large investment of $5 billion in Pakistan over the following three years.The prime minister has given the pertinent authorities instructions to resolve all sector-related issues first.
Proving their faith in Prime Minister Sharif’s abilities, the businesses pledged to contribute $5 billion to advance Pakistan’s exploration operations for gas and petroleum. The PM’s serious attention to the industry was commended by the delegation members, who also acknowledged his efforts to meet with industry stakeholders, address their concerns, and find solutions. “Thank you for making us part of the consultation process, listening to our problems and finding solutions,” they replied.
It was disclosed during the conference that 240 drilling sites would be investigated over the following three years. The prime minister emphasized that domestic exploration of oil and gas remains Pakistan’s top priority and invited oil and gas corporations to investigate offshore reserves.
“Our top priority in Pakistan is to explore our local gas and oil reserves,” he said, adding that the nation imports billions of dollars’ worth of gas and oil each year and that domestic production could save significant foreign cash while lowering the cost of gasoline and gas for the average citizen.
PM Sharif gave the relevant authorities instructions to address every issue pertaining to the gas and petroleum industry as soon as possible. The prime minister appointed Deputy Prime Minister Ishaq Dar to lead a commission to oversee the sector’s growth and seamless operation. This group will create policy recommendations for the exploration and development of oil and gas reserves. It will be composed of concerned officials, secretaries, and specialists.In an effort to increase domestic output and lessen reliance on imports, the PM reaffirmed his commitment to finding urgent solutions for every issue the petroleum and gas industry faces.
