Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said on Thursday that the government had initiated different gas-related projects worth Rs 800 billion, including setting up of LNG terminals and gas pipelines to meet energy needs of the country.
“By the grace of Allah Almighty, Pakistan will have surplus power due to effective policies of the present government by 2018,” he said.
He was addressing the participants of the launching ceremony of the Universal Gas Distribution Company (Pvt) Limited, the first-ever company which had secured the Liquefied Natural Gas (LNG) import and sale license from the Oil and Gas Regulatory Authority (OGRA) to feed the Compressed Natural Gas (CNG) stations.
The minister invited other private companies to come forward and get such licenses as it would create an atmosphere of competitiveness in the market.
Terming gas ‘backbone’ for the energy sector, he regretted that some elements were criticising the LNG import and misleading the public about its benefits.
With the import of LNG, he said Pakistan was importing one million ton fertilizer and now it had 1.5 million tone fertilizer surplus. All gas-based power plants were in running condition, CNG sector was back to its business and industrial sector was getting full supply, he added.
Commenting on performance of the PML-N government, Khaqan said during last three years the government had launched unprecedented development projects for the benefit of common man. “The three-year development is much higher than the period from 1999 to 2013, if compared,” he added.
The government, he said, was making progress in all key sectors including energy, infrastructure development, and social welfare projects like Benazir Income Support Programme (BISP).
Chief Executive Officer (CEO), Universal Gas Distribution Company, Ghiyas Abhullah Paracha thanked OGRA for awarding the license, saying it would help revive the CNG sector.
