Local and international institutions of Pakistan Oil and gas exploration and production has announced an investment of five billion dollars during the next three years in the sector.
This announcement was made at the Prime Minister’s House on Saturday Prime Minister Shahbaz Sharif It was done in the meeting chaired by
According to a statement issued by the Prime Minister’s Office, a delegation of oil and gas exploration and production companies told the meeting that an investment of five billion dollars will be made for petroleum and gas exploration over the next three years. Excavation will be done at around 240 locations.
The Prime Minister formed a committee under the chairmanship of Ishaq Dar, which will include experts, secretaries of the concerned ministries and other officials.
The committee will formulate proposals to formulate an attractive policy for exploration and development of petroleum and gas reserves following consultation with the representatives of oil and gas exploration and production sector.
The Prime Minister also directed the concerned authorities to solve the problems faced by the companies and to immediately submit policy proposals to the newly formed committee.
The meeting was informed that currently Pakistan’s domestic oil and gas production is 70,998 barrels and 3,131 million standard cubic feet per day respectively.
The prime minister also invited petroleum and gas exploration and production companies to work on offshore sites and termed exploration of new reserves as a ‘top priority’.
The Prime Minister said that the government spends billions of dollars every year to import oil and gas and production from local reserves can save valuable foreign exchange.
He said that local reserves will also reduce fuel and gas prices for common people.
State Bank Governor Jameel Ahmed told the meeting that oil and gas production companies have been allowed to export profits as per the instructions of the Prime Minister.
Will not tolerate any obstacle in implementation of agreements with China: PM
During this Prime Minister Shehbaz Sharif has said that China with Information Technology, Communications, Minerals and Mining Collaboration across sectors A new era has begun.
According to the official news agency APP, the agreement was reached between the two countries during the Prime Minister’s recent visit to China on Saturday Agreements and MoUs Presiding over another meeting to review the implementation, the Prime Minister said that this visit will promote economic development, regional connectivity and bilateral relations between the two countries.
He said that he will not tolerate any obstacle in the implementation of the agreements made with China and he will monitor the process himself.
Mentioning Pakistan-China friendship in every test, he said that China always supported Pakistan in difficult and tough times.
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He further said that China has emerged as the strongest economic power in the world and Pakistan can emulate its growth.
The Prime Minister said that recently a delegation of Chinese shoe manufacturing companies visited Pakistan in connection with the transfer of their plants to Pakistan while other such Chinese companies are planning to invest regarding five to eight billion dollars in Pakistan. Have the ability.
He said that local shoes manufacturers association is in constant contact with Chinese companies in this regard.
He said that regarding 12 well-known Chinese companies related to the agricultural sector will participate fully in the ‘Food and Agri Expo’ held in Pakistan.
Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, federal ministers including Jam Kamal Khan, Attaullah Tarar, Abdul Aleem Khan, Sardar Owais Khan Leghari, Dr. Mossadegh Malik, Rana Tanveer Hussain, Mohammad Aurangzeb, Ahsan Iqbal, and others participated in the meeting.
The Prime Minister also reviewed the progress on sending 1,000 Pakistani students to China on government scholarships to get advanced training in the agricultural sector.
He directed to send students from backward areas of Balochistan province to students from all four provinces, Gilgit-Baltistan and Azad Kashmir on merit and priority basis.
The meeting was informed that due to the agreements and memorandums of understanding signed during the recent visit of the Prime Minister, more than one hundred Chinese companies are in touch with Pakistani companies for business and investment purposes.
The meeting was also informed regarding technical training of three lakh students by Huawei, one-stop operation for business facilitation and progress on smart governance and smart city by the Ministry of Information Technology.
The Prime Minister directed the WAPDA authorities to establish a safe center for foolproof security arrangements for Chinese nationals working on Dasu and Diamer Bhasha dams and urged them to implement them immediately.
The Prime Minister was also informed regarding the progress on various development projects related to communication, infrastructure, energy and Gwadar.
He directed to expedite work on measures for development of port, airport and industrial zone to transform Gwadar into regional trade hub.
The Prime Minister also emphasized on speeding up the negotiation process with Chinese manufacturing companies for the transfer of solar panels and other accessories units to Pakistan.
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2024-07-07 15:56:05
