Investment in petroleum sector

Published January 29, 2004

ISLAMABAD, Jan 28: Minister for Petroleum and Natural Resources, Ch. Nouraiz Shakoor said on Wednesday that incentives and facilities being offered to local and foreign investors in petroleum sector are not less than any other country of the world.

All possible measures would be adopted to make these incentives more attractive so that the economy could be strengthened, he told reporters here. Pakistan, he said, in collaboration with French company 'Total' and its consortium has invested $25 million for oil and gas exploration in Indus delta.

Oil and gas exploration activities going on in off-shore areas are showing positive results, he added. The minister said at present 25 companies were engaged in oil and gas exploration and production activities.

Nouraiz Shakoor said like in the past three years, foreign investment has been encouraging in this vital sector this year owing to continuity of policies introduced by President General Pervez Musharraf.-APP

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.