Oil refineries to be set up in Gwadar, says president
RAWALPINDI, Sept 29: President Gen Pervez Musharraf said on Thursday that the government would set up oil refineries in Gwadar to help make it a regional trade hub and provide cost-effective fuel for sustaining the country’s economic growth.
The president told a gathering of senior civil servants that his government was striving to develop gas, coal, water and alternative energy sources as part of its strategy to minimize the country’s dependence on imported oil.
“We have strategized our energy requirements for the next 15 years as this will be the lifeline for a vibrant economy,” he told the participants of the management course at the National School of Public Policy. Pakistan has reduced its dependence on oil for power generation from 70 to 59 per cent through greater use of gas and it intends to bring the share down to 30 per cent in the near future for provision of inexpensive electricity.
