ISLAMABAD – On Monday, Prime Minister Muhammad Shehbaz Sharif mandated that consumers have continuous gas and power delivery during the holy month of Ramadan. He also commanded that every conceivable facility be provided to the private sector, as well as local and foreign companies, for the exploration, processing, and distribution of gas and oil.
The prime minister chaired a high-level discussion on the petroleum industry, according to a news statement from the PM Office Media Wing. Senators Ishaq Dar and Dr Musadik Malik, along with Sheza Fatima Khawaja, Ahad Khan Cheema, Jahanzeb Khan, Muhammad Aurangzeb, Ali Pervaiz Malik, and other top officers, attended the meeting.
Addressing the attendees, he stated that the government’s role was not to do business, but rather to provide all types of services to the private sector and to protect the rights of consumers, particularly the most vulnerable elements of society.
He also requested that actions be done to promote global investment in the discovery of tight gas and undersea oil and gas deposits, expressing sorrow that Pakistan’s marine territory was vast in comparison to Balochistan province, but no steps were taken to explore its hidden natural riches.
He emphasized that exploring and fully utilizing undersea natural resources, particularly oil and gas deposits, was one of the government’s main goals.
He emphasized the importance of improving the country’s petroleum refining capacity and called for the development of a comprehensive strategy to eliminate the circular debt of the oil and gas industries and find a long-term solution to the problem.
He also directed that smart metering be used to reduce gas sector losses, as well as to identify and prosecute gas and oil thieves.
“I will not allow any more wastage of the people’s hard-earned money or loss to the national exchequer,” the prime minister stated. He directed close surveillance of the LPG sector to guarantee that the product is provided to customers at an affordable cost.
Prime Minister Shehbaz urged the competent authorities to ensure that the industrial sector receives uninterrupted gas supplies, as well as the installation of energy-efficient machinery. He also advocated for household consumers to prefer using electricity rather than gas in their daily life.
The prime minister also requested an implementation report on previous administrations’ efforts to conserve energy, as well as an improvement in the energy sector’s administrative infrastructure to meet international standards. He advocated for the hiring of skilled individuals in the energy sector on a merit basis, as well as the presentation of short, medium, and long-term energy sector reform policies.
The prime minister also directed the presentation of a strategy for the country’s mineral resources, including exploration and increased exports.
The gathering was informed that the country’s oil and gas reserves were rapidly depleting, with petroleum products worth $4 billion exported each year, and that local exploration would save billions of dollars in foreign cash.
The group was also briefed on tight gas and subsea oil reserves, as well as international investor interest in the sector. It was stated that work on the LPG Policy 2024 was underway, and that engagement with stakeholders was ongoing. Participants were also informed on energy consumption and the mineral sector.
The prime minister directed the necessary authorities to prioritise energy sector reforms.
