Minister suggests ‘charter of economy’ for consistent policies

Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said Saturday that the government was working on different gas projects to address energy crisis in the country.

Speaking at the Multan Chamber of Commerce and Industry on Saturday, the minister said import of RLNG was an easy and early way to resolve gas crisis and the government was constructing five terminals.

He said the LNG supply had added 40 per cent gas into main system and three fertilizers factories, which were earlier closed due to shortage of gas, had restarted production.

Work on the Pak-Iran gas pipeline and TAPI projects were heading forward with a rapid pace, he said, and added the TAPI pipeline would be completed by 2019 which was a project of 20 to 25 billion dollars.

About LPG, Shahid Khaqan Abbasi said the government would regulate the LPG sector and it would recommend LPG price which would surely help availability of the cheapest gas to consumers throughout the year.

Resolving energy crisis was only way to enhance exports and put the country on way to progress and prosperity, he said and added that the previous governments did not focus the energy sector to meet gas shortage.

The minister said that LNG would surely resolve energy issue and three power projects were being installed in Punjab which would be run by LNG and they would produce 3,600 megawatts electricity by 2017.

Khaqan suggested that all political parties make a “charter of economy” in order to keep consistency and continuity of economic policies in the country to benefit masses.

To a query about petroleum prices, Shahid Khaqan said the incumbent government had made significant reduction in petroleum prices. He added that prices of petroleum products in other countries were higher as compared to Pakistan.

The minister said nearly 70 new gas fields had been discovered during the ongoing tenure of government in the country. Some companies had achieved oil and gas exploration licences for the period of 20 years each. The government had cancelled licences of 12 companies as these were not working practically.

Earlier, MCCI President Fareed Moghis Shiekh welcomed the minister and called for resolving energy crisis at the earliest to facilitate the masses.