Mineral Policy 2012 will enhance international competitiveness: Dr Asim
ISLAMABAD: Outlining the achievements of the present government, Advisor to the Prime Minister on Petroleum and Natural Resources Dr Asim Hussain on Monday said that 1.6 million consumers were given gas connections at a cost of Rs 10.41 billion during the last four and a half years.
Some 879 km transmission lines and 39,707 km distribution and service lines have also been added to the gas network with an investment of Rs 61.164 billion by the present government, Dr Asim said while chairing a seminar titled ‘Pakistan’s potential in oil & gas sector’ organized by the PIP here.
He said that as a result of government efforts, 750 MMCFD gas was likely to be added in the system by June 2013, with an increase of 20%.
The Advisor on Petroleum said that the ministry had prepared the National Mineral Policy 2012 to meet the challenges of large scale mining and enhance international competitiveness.
He said that the country imported oil to the tune of 15 billion dollars, which constituted 36% of the overall import bill of the country.
Besides, the value of the gas produced in the country is 4.3 billion dollars and oil produced in the country is 2.4 billion dollars, he added.
Topics of the PIP seminar, covered by senior industry officials and government officers, included Policy Reforms, Pakistan Business Relationships with Iran and Turkmenistan, Achievements of the E&P Sector, Synthetic Natural Gas (SNG) to counter Natural Gas crises and Future Outlook of LNG in Pakistan.
He stressed upon the exploration and production companies operating in Pakistan to support the Petroleum Institute of Pakistan (PIP) and to help develop it into a think-tank for policy initiatives for the oil and gas sector.
Dr Asim said that Pakistan had great potential in the oil and gas sector and the government was introducing new policies to meet the rising energy demand.
He assured full cooperation and facilitation to all the investors, who wished to invest in the country’s oil and gas sector.
He further said that the government was also working on Tight Gas, Low BTU Gas, Shale Gas, Marginal Gases, Flared Gas and Stranded Gas policies in order to tap the available resources for the benefit of the country.