*KARACHI - Pakistan’s Chief of the Naval Staff Admiral Zafar Mehmood Abbasi has hinted at discovery of huge oil reserves in Pakistan coastal areas.*
*He disclosed on Wednesday that huge deposits of hydrocarbon resources were likely to be explored soon which could become a “game changer” for Pakistan’s economic future.*
The Navy chief, talking to businessmen and industrialists during his visit to the Korangi Association of Trade and Industry, also observed that there should 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 Makran region and Chinese experts would soon initiate exploration in the sea.
He deplored that a massive campaign was going on against CPEC but the nation had understood that the project would prove to be a game changer for future economic strength of the country adding that there should be no doubts about benefits of CPEC.
He said that business and industry had a great role to play to give a strong push to the maritime economy. He highlighted the need to have academic research on maritime economy and hydrocarbons for which Bahria University would be tasked.
Admiral Abbasi also stressed to have a technology park, which would be set up in Karachi in the near future. In order to upgrade ship-breaking industry private sector would have to play a role in introducing latest know-how so that new opportunities opened up in that sector, he further said.