December 17, 2003	Wednesday	Shawwal 22, 1424

ISLAMABAD, Dec 16: Prime Minister Mir Zafarullah Khan Jamali on Tuesday said that his Government would continue to pursue investor-friendly policies in the petroleum and energy sector to promote foreign investment in this vital area of the country’s economy.

He was talking to Dr Harvie Andre, Chairman of BOW Energy Resources Limited, who called on him at the Prime Minister’s Secretariat.

The Federal Minister for Petroleum and Natural Resources, Ch. Nouraiz Shakoor and Secretary Petroleum Abdullah Yousaf, were also present on the occasion.

He said the Government was fully alive to the importance of the energy sector and would encourage foreign investment by offering liberal incentives to the prospective investors and entrepreneurs.

Prime Minister Jamali on this occasion congratulated the company on its success and hoped that their future efforts would be more successful.

He said that Pakistan had immense oil & gas reserves that were explored by the state, as well as private, prospecting companies and government has formulated policies to encourage investment in this sector by providing many incentives in this regard.

Prime Minister also said it was the success of the policies of the government that the credit and investment ratings of Pakistan had improved and more and more investment was coming to the country.

The Premier also directed the Ministry of Petroleum and Natural Resources to facilitate the investors and provide them with all the necessary information and help.

Dr Harvie Andre briefed the Prime Minister about the recent discovery of natural gas in Sanghar district of Sindh province by the Canadian Company, BOW Energy Resources Limited.

The company, which was engaged in Oil & Gas exploration in Sanghar area of Sindh had recently discovered natural gas at 4 drilling sites, which is producing around 10 million cft (Cubic feet) of gas. The production of gas would rise to almost 80 million cft in about 3 months time, he said.

The chairman, BERL, feeling encouraged by the recent discovery and the investor friendly policies of the government, informed the Prime Minister that the present investment of around $83 million would be increased at around $150 million.