Caretaker PM directs for comprehensive strategy to address petroleum issues

ISLAMABAD: Caretaker Prime Minister Nasir-ul-Mulk on Thursday directed to evolve a comprehensive strategy for addressing petroleum related issues for the consideration of the incoming elected government.

He made these directions, while chairing a briefing on petroleum in Islamabad.

The prime minister also asked the authorities concerned to work out a plan to meet any emergent situation as per the mandate of the caretaker government.

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The secretary petroleum briefed the caretaker PM about the petroleum sector with special focus on production and sector-wise consumption of gas and petroleum products in the country.

The premier was informed that the country’s current energy requirements of 79.58 million tonnes of oil equivalent are being met through 38 percent gas, 34 percent oil, six percent LNG and other resources including LPG, Hydro and coal resources.

The secretary petroleum also gave an overview of the available gas and oil reserves in the country and the cumulative province-wise production and their utilization.

Nasir was informed that around 0.5 million consumers are being added annually to the existing number of 8.8 million of gas consumers in the country.

It was informed that with diminishing domestic production, LNG requirement which currently stands at 1000 Million Million Cubic Feet per day is projected to reach 3600 MMCFD by 2030.

The secretary, in his briefing, also highlighted certain issues concerning the petroleum sector including revision of gas sale prices.

Minister for Energy Barrister Syed Ali Zafar, Secretary to Prime Minister Suhail Aamir, Secretary Petroleum Sikandar Sultan Raja and senior officials attended the briefing.