ISLAMABAD: Prime Minister Shehbaz Sharif emphasized the critical need for investment in Pakistan’s energy sector, particularly in the exploration and development of tight gas and undersea oil and gas reserves. During a review meeting on Monday, he directed authorities to facilitate both local and foreign investors in the discovery, refining, and distribution of oil and gas resources.
The Prime Minister underscored the importance of ensuring uninterrupted electricity and gas supply, especially during the month of Ramazan. He also called for measures to curb gas losses through smart metering and to crack down on theft, while prioritizing gas supply to the industrial sector.
Addressing the looming challenge of circular debt in the petroleum and gas sectors, PM Sharif urged the development of a comprehensive plan to eliminate it promptly. He stressed the potential savings of billions of dollars in foreign exchange through domestic oil and gas discoveries, highlighting the need for international investment in this sector.
The meeting also discussed the formulation of the LPG Policy 2024 to safeguard consumer interests, with ongoing consultations with stakeholders. Additionally, PM Sharif instructed authorities to expedite energy sector reforms and ensure their effective implementation.
The meeting, attended by key officials including Senator Ishaq Dar and Senator Dr. Mussadik Malik, focused on strategies to address energy consumption in the industrial and mineral sectors, further highlighting the urgency of energy sector reforms.
PM Shehbaz Sharif’s directives reflect the government’s commitment to addressing the energy crisis and promoting sustainable energy solutions in Pakistan.
Story by Zaheer Abbasi
