ISLAMABAD, Sept 13: Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon said on Thursday that the CNG sector attracted over Rs70 billion investments during the last few years owing to liberal and encouraging policies of the government.

Chairing the sixth meeting of the board of governors of Hydrocarbon Development Institute of Pakistan (HDIP) the minister said the government would encourage private sector to set up CNG equipment manufacturing plant in the country.

As a result of introducing investor friendly policies and deregulation of the petroleum sector the oil and gas exploration in the onshore and offshore areas attracted an unprecedented direct and indirect investment in the country.

The minister said that Rekodiq Copper project being undertaken by the Chilean Antofagasta company with an investment of $6 billion in Chagai district of Balochistan province would place Pakistan on the world copper map shortly.

He said that the country was endowed with enormous energy potential and underlined the need to promote the research and development activities on modern line to tap the explored oil, gas and mineral deposits to meet the growing energy needs of the country.

He said that HDIP would introduce latest technologies to boost the oil, gas and mineral exploration activities in the country. He said that the government would provide better incentives package to the professionals engaged in the hydrocarbon research and development activities aimed to raise their living standard in a competitive environment.