(Anwar Abbas) The committee formed to solve the problems of the petroleum sector directed to introduce the fuel price adjustment system in the gas bills as well.
According to the details, Deputy Prime Minister Ishaq Dar chaired the first meeting of the committee established to consider the problems faced by the E&P companies of the petroleum sector. Members of the public and private sectors participated.
The Deputy Prime Minister highlighted the importance of this sector for energy security and economic development, Ishaq Dar expressed his determination to take all possible steps to facilitate local and foreign companies, this step to attract more investment. It will be helpful to do.
In the meeting, the heads of local and foreign E&P companies highlighted the security and stability concerns of the sector due to the increase in circular debt. Private sector members of the committee also expressed their concerns about the downstream gas sector and stressed the need to open up the sector to private companies to improve its sustainability.
After a detailed discussion, the forum directed the Petroleum Division to work closely with the industry and other stakeholders. The forum also directed the Petroleum Division to suggest appropriate amendments to the Ogra Ordinance, to introduce a mechanism for adjustment of gas rates on monthly or quarterly basis.
The forum on security issues directed the Interior Division to work in close collaboration with E&P companies and other stakeholders. And to develop waqf one window facility system at provincial level.
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2024-08-19 09:50:13