ISLAMABAD, June 26: Minister for Petroleum and Natural Resources Ch. Nouraiz Shakoor on Saturday said that speedy development and timely completion of oil and gas projects would not only bring socio-economic progress and prosperity but also put the country on the track of self-reliance in these vital fields.

Talking to a businessmen and investors delegation, he said the country was endowed with vast oil, gas and mineral resources and all-out efforts were being made to exploit them at an accelerated pace in order to bring revolutionary development in all walks of life.

He said tremendous opportunities and potential exist for the private sector and asked them to take benefit from the incentives being offered in the oil and gas sector.

The minister said the government was making concerted efforts for the speedy promotion and expansion of the oil and gas sector to enhance productivity.

A plan was under way to double the oil and gas production in next 10 years, he said.

Nouraiz Shakoor said as a result of continuity of policies and various steps taken by the government, a record investment was witnessed in oil and gas during the last 18 months, which also helped in restoring the investor's confidence.

The government, he said, was taking concrete measures to provide the basic amenities of life to the people living in far flung and less developed area of the country on priority basis with a view to developing the lifestyle of the people and removing backwardness as quickly as possible.-APP