Prime Minister Imran Khan has directed the authorities concerned to fast-track the issuance of licences for domestic oil and gas exploration, terming it the cheapest source of natural gas.
The prime minister said this while chairing a high-level meeting on Wednesday to review the gas situation in the country.
The prime minister also directed the concerned departments to remove hurdles in the process of installation of new LNG terminals and virtual pipeline projects by investors. In this regard, Ministry of Maritime Affairs, Ministry of Petroleum and OGRA were directed to coordinate and also take all other stakeholders on board, including the investors.
The prime minister while emphasising the importance of North-South Gas Pipeline, directed to ensure its execution without further delay in the agreed timelines.
The meeting was briefed about the demand and supply situation from the domestic reserves, shortfall and import of LNG. It was informed that the current constrained demand of gas in the country is 4,700 MMCFD which increases to 6,000-6,500 MMCFD during the winter season. The current domestic supply amounts to 3300 MMCFD, which is decreasing every year.
The meeting was told that the resulting shortfall has to be managed by importing LNG. With the current infrastructure, a shortfall of nearly 1000 MMCFD in winters arises for which multiple options are being adopted.
The meeting was briefed that for a short term, the existing capacity of domestic terminals is being optimised and the process of issuance of virtual pipeline licences is expedited. In addition, the installation of two new LNG terminals is underway with all bottlenecks being removed on priority basis.
The meeting was attended by Finance Minister Shaukat Tarin, Energy Minister Hammad Azhar, Planning Minister Asad Umar, Minister for Maritime Affairs Ali Haider Zaidi, SAPM Mahmood Maulvi and officials of the concerned departments.
Separately, Prime Minister Khan directed SAPM on E-Commerce Senator Aon Abbas Buppi to formulate a “robust policy” to govern the industry and create new jobs and ease of doing business for young people.
During the meeting, they discussed the establishment of an e-commerce university as well as matters related to e-commerce. Moreover, they also deliberated over the holding of a freelancers’ conference.
Buppi told the prime minister about the first e-commerce university being established in Pakistan.
The local e-commerce industry is just picking up with online retail accounting for about 2 percent of gross domestic product. Pakistan has seen more money flow into its nascent technology sector during 2021 than in the previous six years combined. Many global venture capital firms have invested in Pakistan for the first time in the current wave, including Kleiner Perkins, an early investor in Google and Amazon.com Inc. Investments recently crossed $300 million after two e-commerce companies raised fresh funds.
Imran for celebrating diamond jubilee in befitting manner:
Separately, Imran Khan called for holding Pakistan’s diamond jubilee celebrations – due next year – in a befitting manner to highlight the country’s distinctive identity, culture and unique location.
“On the occasion of country’s 75th independence anniversary, there is a need to tell youth about the aim of Pakistan’s creation and the true message of Allama Iqbal,” Imran said while presiding over a meeting held in Islamabad to review the preparations.
Ministers Chaudhry Fawad Hussain and Shaukat Tarin, Special Assistant to PM Dr Shehbaz Gill, and other senior officials attended the meeting.
The prime minister said that Pakistan has been bestowed by Almighty Allah with all kinds of blessings, which required to be highlighted.
Fawad briefed the premier in detail about the preparations for the country’s diamond jubilee celebrations.
