From Business Correspondent
WAH CANTT: Federal Minister for Petroleum and Natural Resources, Ghulam Sarwar Khan has said that the government would revive and implement new petroleum policy besides expediting works on Iran-Pakistan pipeline project and Turkmenistan-Afghanistan-Pakistan-India Pipeline (TAPI) .
Talking to newsmen here on yesterday, the minister said that as per vision of Prime Minister Imran Khan, the present government is working on re drafting the petroleum policy under which a principal change would be made to make a uniform policy for oil, gas, LPG and LNG. He said that after five years, the present government would present five new blocks for exploration through open bidding soon.
The minister said that in the past, such blocks were allotted to state owned exploration company OGDCL but to ensure competition and good results, these blocks located in Baluchistan, Sindh and KP would be offered through open bidding to national and international exploration companies.
He said that work is in progress on 40 blocks and by exploration five new blocks remarkable oil and gas reserves could be fetched.
Rejecting the impression made by some sections of media that present government has dropped “gas bomb” over masses, he clarified that that gas prices had been increased by 10 to 20 percent for majority of the consumers using 50-200 cubic meter of gas per month, having an impact of less than hundred to few hundred rupees on most of the low income people. He said this 10 to 15 percent increase is made to meet the deficit of Rs.152 billion facing gas supply companies i.e SSGC and SNGPL.