ISLAMABAD, June 1: More gas reserves have been found in Sindh and Punjab, and the government is considering the possibility of gas import from neighbouring countries.

This was stated by Minister for Petroleum and Natural Resources Chaudhry Nouraiz Shakoor Khan while giving a briefing to the Senate Standing Committee on Petroleum and Natural Resources at the Parliament House on Tuesday.

The committee was given a briefing on the working and performance of the Ministry of Petroleum and Natural Resources. It was also informed about the composition, working and future programmes of Oil and Gas Development Corporation.

The committee, which met under the chairmanship of Senator Syed Dilawar Abbas, also considered an adjournment motion moved by Senator Prof Khurshid Ahmad on the alleged increase in the prices of petroleum in the country. In this regard, it was given an overview of the reforms in downstream petroleum sector.

The minister informed the committee that a foreign company had invested billions of dollars on a petroleum exploration project, which was likely to bring fruitful dividends for the country.

The committee was also apprised of the petroleum products' pricing mechanism. It was told that under the cabinet's decision, the oil marketing companies had been authorized to fix and notify the prices through Oil Companies Advisory Committee on fortnightly basis with effect from 1-7-2001.