|
|
|
| 07 May 2004 | Friday | 16 Rabi-ul-Awwal 1425 |
Gas supply to industries will be ensured: President
RAWALPIDNI, May 6: President Gen Pervez Musharraf said on Thursday that the government would ensure long-term gas supply to the industrial sector for country's sustained economic development.
He said the government was fully alive to energy requirements for enhanced industrial development and believed in ensuring consistent gas supply to the industry.
The President, who attended a presentation on demand and supply position of gas in the country over the next 25 years, directed officials concerned to take steps to bring more gas into the system to meet growing energy requirements of all sectors.
He said the industrial sector would receive a boost through consistent economic policies, incentives and a stable investment climate. President Musharraf said investors would be offered a congenial environment for further exploration in oil and gas sector.
He underlined that guaranteed supply of gas to the industry on long-term basis would further stabilise country's business climate besides stepping up the pace of all-round economic development.
Federal Minister for Petroleum and Natural Resources Chaudhry Nouraiz Shakoor, Finance Minister Shaukat Aziz and senior officials attended the presentation.
Mr Shakoor said the Ministry would guarantee supply of gas to industries for a minimum period of 10 years. He said the step would facilitate business environment and the country was expected to attract about $1 billion investment in the next 18 months in the oil and gas sector.
He spoke about plans to carry out drilling of 100 exploratory wells a year and also enhance existing oil production from 64000 to 100,000 barrels. He said the country aims at increasing gas production from three to five billion cubic feet per day in next 10 years.
The minister also dilated on alternative arrangements for meeting energy requirements of the industry. During the presentation, he informed the President about the demand and supply of gas situation beyond the year 2010. -APP
|
|
|
|