January 21, 2003	Tuesday	Ziqa’ad 17, 1423

ISLAMABAD, Jan 20: Advisor to the Prime Minister on Finance Shaukat Aziz on Monday said that the energy sector offered attractive opportunities for foreign investors, and that the government has, through a process of reforms, created an environment conducive for growth in this sector.

Shaukat Aziz expressed these views at a meeting with Jeroen Van der Veer, President of Royal Dutch Petroleum Company.

Shaukat Aziz said that Shell has had a very good experience for its upstream and downstream operation in Pakistan, and is looking for enhanced activities including offshore exploration.

The President of Shell is visiting Pakistan to review the companies’ activities here and explore possibilities of increasing investment.

The Adviser to Prime Minister said deregulation has been introduced in the energy sector and role of private sector has been made much more substantive. In addition, a strong independent regulatory structure OGRA has been created to ensure that rights of all stakeholders are protected, he said.

The adviser said that oil and gas sector had the potential for growth and encouraged Shell to expand its operations in Pakistan.

He also appreciated expansion of Shell activities, which means more jobs and transfer of technology.

Minister for Petroleum and Natural Resources Ch. Nouraiz Shakoor Khan, during meeting with President, Royal Dutch Shell Company, Jeroen Van Der Veer, said the company is playing a pivotal role in the promotion of Pakistan’s petroleum industry.

Nouraiz Shakoor said the history of Pakistan-Shell relations is very old which would further be strengthened in future.

He also discussed prospects of more investment in upstream petroleum sector and gas pipeline projects by Shell company.

The minister appreciated Jeroen for initiating employment programme “Tameer” for Pakistani youth and expressed the hope that this scheme would help eliminate unemployment in Pakistan.—APP