News
Tuesday, April 26, 2011
Efforts to be made for utilisation of hydrocarbon resources: PM
Staff Report
ISLAMABAD: Prime Minister (PM) Yousaf Raza Gilani, on Monday, stressed upon the need of taking concerted efforts to formulate cogent policies for optimal utilisation of the untapped hydrocarbon resources of the country.
He said that the country’s energy need is growing day by day and there is a dire need to mobilise all available options to breach the supply and demand gap, which includes intensifying indigenous oil and gas exploration activities. The PM expressed these views in a meeting with the Petroleum and Natural Resources Adviser, Dr Asim Hussain, who called on him at the PM’s House on Monday. The PM said that our country has abundant hydrocarbon and coal resources, thus, efficient measures need to be taken to intensify the oil and gas exploration activities in the country. He directed the Ministry of Petroleum and Natural Resources to devise investor-friendly policies to attract direct and indirect foreign investment in the country.
Gilani, while referring to the government’s decision to revamp the board of directors and management of the oil and gas public sector companies, told the adviser that competency shall be the selection criterion for all key posts as this would help strengthen the overall economic growth in the country.
He said that the issues pertaining to the oil and gas sector must be resolved once and for all so that all our attention remains focused on the economic progress of the country. While commenting on the importance of furnace oil for the running of IPPs, the PM said that joint efforts must be made by all the relevant government entities to resolve the issues of circular debt.
He expressed the desire of development in the field of exploration as well as enhancing import of natural gas in the country.
Separately, Dr Hussain briefed the PM about the progress made so far on the revamping of the oil and gas public sector companies in the country. He also informed the PM about the ongoing process of exploration and import of oil and gas products in the country.
He said that as per the PM’s directions, attention has been focused on provision of maximum relief to the masses. Dr Hussain also apprised the PM about his upcoming visit to India in connection with the TAPI Gas Pipeline project. Gilani asked him to convey his best wishes to Indian leadership, particularly the Indian PM, Dr Manmohan Singh. He also asked Dr Hussain to keep him abreast with the affairs of the Ministry of Petroleum and Natural Resources.
Courtesy www.dailytimes.com.pk