ISLAMABAD – Prime Minister Imran Khan gave a go-ahead for the creation of adedicated security force for petroleum exploration on the pattern of theChina-Pakistan Economic Corridor (CPEC) security force.
He on Monday, directed the local oil and gas companies to accelerate theirexploration process, and the Petroleum Ministry to extend all facilities toforeign companies.
Chairing a meeting to discuss the issues related to the petroleum sector,he ordered minimizing the time limit for the approval process, anddiscourage unnecessary delays and involvement of red tape.
The meeting was attended by Finance Minister Asad Umar, Petroleum MinisterGhulam Sarwar Khan, Special Assistant to Prime Minister Iftikhar Durrani,Secretary Petroleum and other senior officers of the Petroleum Division.
The Prime Minister also instructed to digitize the whole process, besidesdefining a timeline for approval of all the cases. He said the role of theministry should be reduced to just monitoring.
He gave a go-ahead for the creation of a dedicated security force forpetroleum exploration on the pattern of the China-Pakistan EconomicCorridor (CPEC) security force.
The Prime Minister told the meeting that the companies related to the oiland gas sector would be provided full security and decided to create aspecial force for this purpose.
The meeting also decided to hold roadshows abroad to lure the foreigncompanies to explore oil and gas reserves in Pakistan.
A threadbare discussion was also held on the establishment of a FrontierZone for oil and gas exploration, and supply of gas to the companies at anattractive price.
The Prime Minister directed the concerned authorities to furnish newregulations concerning oil and gas before the Council of Common Interestsfor finalization.
The meeting also reviewed the respective strategies being pursued by theSui Northern Gas Pipelines Ltd and Sui Southern Gas Company to curb theftand wastage of gas.
The Prime Minister said that Pakistan had been blessed with considerablereserves of oil and gas, and its needs could be fulfilled to a great extentthrough their exploration and exploitation.
Unfortunately, he said, the import of costly oil and gas was preferred tothe exploration of local reserves in the past, which not only negativelyimpacted the industrial consumers but also made the masses bear the burdenof inflation.