Quoted by Dawn News
An announcement of $5 billion during the next three years in Pakistan’s oil & gas exploration and production (E&P) sector has been made by local and International firms.
They announced it during a meeting chaired by Prime Minister Shehbaz Sharif at the PM house. Several high-profile officials attended this meeting including Deputy OM Ishaq Dar, Federal Minister Ahad Khan Cheema Muhammad Aurangzeb, Mohsin Naqvi, Amir Muqam, Ahsan Iqbal, Sardar Awais Leghari, Planning Commission Deputy Chairman Jehanzeb Khan, Federal Board of Revenue Chairman Amjed Tiwana, and representatives of domestic and international E&P companies.
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This investment will be focusing on exploring around 240 potential reserve sites to discover petroleum and gas.
Along with this, PM Shehbaz Sharif created a committee chaired by Deputy PM Ishaq Dar. This committee including several experts will collaborate with E&P for the purpose of creating attractive policies for the exploration and development of petroleum and gas reserves.
To resolve the issues faced by the companies has been directed by the PM to authorities. They are directed to submit policy proposals to the newly formed committee without delay.
