ISLAMABAD – The All Pakistan CNG Association (APCNGA) on Monday said overtwenty multinational and local companies are keen to invest billions in thegas sector of Pakistan which should be welcomed.
These companies are inclined to invest in construction of new gasterminals, gas supply to consumers and laying down new gas pipelines, itsaid.
This will reduce the price of electricity and gas, improve environment, endenergy crisis and tame down circular debt, said Ghiyas Paracha, centralleader of the APCNGA.
In a statement issued here today, he said that local and foreign investmentin the gas sector will help the government save over one billion dollars inoil import bill, provide affordable gas and electricity to domestic,commercial and industrial consumers and ensure smooth supplies.
Ghiyas Paracha said that the investment will provide a new lease of life tothe industrial, commercial and CNG sectors, job opportunities willincrease, while the government will earn handsome revenue.
It will provide relief to consumers by reducing corruption whilecompetition will benefit all stakeholders including consumes and gasdistribution companies.
The working and profit of SSGC and SNGPL will improve, ports would bedeveloped, the government would be able to cut subsidy in the energy sectorand the constitutional issue of giving first preference to the provinceproducing gas will be resolved.
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The multinationals that are interested in investment in Pakistan’s gassector include ExxonMobil, Mitsubishi, Trafigura, Eni of Italy, Vito,Gunvor Group,
Petronas Global, and Qatargas while some of these corporations are inconstant contact with the APCNGA, he informed.
The local companies include Associated Group, Sapphire Group, Energas,Halmore, Engro Energy, and Bahria Foundation, he added.
The leader of the CNG sector said that some of these companies are alreadyworking in the country but they need government’s approval to expand theiroperations.
