ISLAMABAD: The government has decided to stop the supply of cheap natural gas to power producers who are selling power to the national grid at exorbitant rates, Minister of State for Petroleum Musadik Malik said on Friday.

Speaking at a press conference, he said the Cabinet Committee on Energy had decided to end ‘exploitation’ by some power companies by “stopping supply to the rich and providing cheap gas to the public at large”.

The policy would encourage competition among companies, which would lead to competitive prices for consumers, he said.

“Landlords and building owners would also no longer be able to exploit tenants by forcing them to pay high energy bills for privately supplied energy resources,” the minister added.

PM Shehbaz announces establishment of new billion-dollar refinery; will attend King Charles III’s coronation next week

Mr Malik also revealed that Prime Minister Shehbaz Sharif had anno­unced the establishment of a refinery that would cost between $10 and $14 billion.

The minister was hopeful that the new refinery would create jobs and reduce Pakistan’s dependence on imported fuel. It will also help boost the country’s economy by increasing energy production and reduce the cost of production for industries, he said Mr Malik said the government was actively working on a new energy policy that would focus on creating energy from LPG, LNG, and solar resources.

Peace with neighbours

Separately, addressing the passing-out parade of cadets at the PAF Academy Asghar Khan in Risalpur, PM Shehbaz said that Pakistan was a peace-loving nation and wished to maintain friendly ties with all countries, especially its neighbours.

“However, our desire for peace must not be misunderstood as weakness,” he said, adding that there could be no peace in South Asia without a just and fair settlement of the Jammu and Kashmir dispute in line with the UN resolutions and the aspirations of Kashmir people.

He praised the role of the armed forces, including the air force, police and intelligence community, in neutralizing threats to national security

Meanwhile, PM Shehbaz will head to the UK to attend the coronation of Britain’s King Charles III and Queen Consort Camilla on May 6, the Foreign Office said on Friday.

A day earlier, he is expected to participate in an event for Commonwealth leaders in London and will hold bilateral meetings with leaders participating in the celebrations.

Published in Dawn, April 29th, 2023