KARACHI, Dec 13: World Bank has emphasised that efforts must be undertaken for fuel oil substituting gas in order to save considerable cost in the form of foreign exchange.

This was stated by leader of the World Bank Mission Marc L. Heitner, principal energy specialist oil and gas policy division of World Bank, in a meeting with managing director, Sui Southern Gas Company Limited (SSGCL), Munawwar Baseer Ahmad and other officials at the SSGC head office. Marc was accompanied by Rashid Aziz and Raul E. Garcia.

He said a matter of special interest is the need to mobilize resources and investment in new pipeline from the recent discoveries by the exploration companies so that gas could be supplied to industries and power plants.

Marc assured full support to the SSGC in the expansion and investment programme to enable the company to move its operation under the regulatory framework of OGRA in a competitive and commercial environment.

The WB mission and SSGC officials hold discussion on various topics which included tariff rationalization, enactment of regulatory framework and restructuring of gas sector.

The mission is also holding meetings with other oil and gas companies and is organizing a workshop on December 19 which will be participated by all the stakeholders, senior government officials, representatives of customers’ group and media. The opening session will be chaired by minister for petroleum and natural resources, Chaudhry Nauraiz Shakoor and key-note addresses will be given by secretary petroleum, Abdullah Yousuf and Marc Heitner.