Federal government released funds under PSDP for petroleum divison

Federal government released funds under PSDP for petroleum divison

ISLAMABAD - The government has so far released funds amounting to Rs116.362 million during the current fiscal year to execute petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs581.812 million.

According to the official data, an amount of Rs2.110 million has been provided to explore and evaluate coal in Nosham and Bahlol areas of Balochistan, for which Rs10.553 million have been earmarked in the PSDP.

While, Rs54 million have been released, against the allocation of Rs70 million, for expansion and up-gradation of Pakistan Petroleum Corehouse (PETCORE) to ensure its sustainable operations and facilitate oil and gas exploration research in the country.

Similarly, a sum of Rs60 million has been provided under a project to up-grade Hydrocarbon Development Institute of Pakistan (HDIP)’s POL testing facilities at Islamabad, Lahore, Multan, Peshawar, Quetta and ISO Certification of Petroleum Testing Laboratory at Islamabad. This year, the government will spend Rs77.960 million for upgradation of the HDIP labs.

The government has yet to release funds for three projects including for acquiring drilling rigs and equipment, appraisal of newly discovered coal resources in Badin Coal-field and its adjoining areas of southern Sindh, exploration and evaluation of metallic minerals in Uthal and Bela areas of Lasbela district, Balochistan, for which Rs416.535 million, Rs3.655 million and Rs3.109 million have been earmarked in the PSDP respectively.