PM Indicates to Deregulate Petroleum Sector

Staff Report

ISLAMABAD: :Prime Minister Shehbaz Sharif on Wednesday indicated to deregulate petroleum sector.

Premier further said that smart meters would be installed to stop oil and gas theft.

He called for a special focus on the promotion of alternative energy, particularly solar energy, besides directing the authorities concerned to formulate a strategy for Thar coal gasification.

He, chairing a meeting to discuss the matters related to the Petroleum Division, said Thar coal was significant to cope with Pakistan’s energy needs and instructed taking measures to transport Thar coal to other parts of the country through rail network.Pakistan, UAE Pledge to Boost Cooperation in Petroleum Sector

During the briefing, it was highlighted that despite minimal carbon footprints, Pakistan was among the top five vulnerable countries and that measures were being taken to mitigate the climate change impacts by promoting products based on alternative energy.

It was told that a strategy would be formulated to enhance production of tight gas and smart meters would be installed to curb gas and oil theft.

The meeting was told that a policy was being formulated to promote electric bikes and vehicles, and domestic electric appliances.

Moreover, the proposals for deregulating the petroleum sector would be worked out besides digitizing the petrol and gas exploration.

The Petroleum Division authorities said that steps were being taken to enhance competitiveness in the petroleum sector, promotion of bio-fuels, and enhancing the local production of oil and gas.

Federal Petroleum Minister Dr Musaddik Malik, Power Minister Awais Ahmed Leghari, PM’s Coordinator Rana Ehsas Afzal and relevant senior officers attended the meeting.