*KARACHI – Pakistan’s Chief of the Naval Staff Admiral Zafar Mehmood Abbasihas hinted at discovery of huge oil reserves in Pakistan coastal areas.*
*He disclosed on Wednesday that huge deposits of hydrocarbon resources werelikely to be explored soon which could become a “game changer” forPakistan’s economic future.*
The Navy chief, talking to businessmen and industrialists during his visitto the Korangi Association of Trade and Industry, also observed that thereshould be no doubts on benefits of China-Pakistan Economic Corridor (CPEC)for the country.
He said that huge reserves of hydrocarbons had been located in the Makranregion and Chinese experts would soon initiate exploration in the sea.
He deplored that a massive campaign was going on against CPEC but thenation had understood that the project would prove to be a game changer forfuture economic strength of the country adding that there should be nodoubts about benefits of CPEC.
He said that business and industry had a great role to play to give astrong push to the maritime economy. He highlighted the need to haveacademic research on maritime economy and hydrocarbons for which BahriaUniversity would be tasked.
Admiral Abbasi also stressed to have a technology park, which would be setup in Karachi in the near future. In order to upgrade ship-breakingindustry private sector would have to play a role in introducing latestknow-how so that new opportunities opened up in that sector, he furthersaid.