KPOGCL’s exploration of oil and gas makes future base of provincial economy certain | Pakistan Today

KPOGCL’s exploration of oil and gas makes future base of provincial economy certain

ISLAMABAD: Khyber Pakhtunkhwa Chief Minister, Pervez Khattak has appreciated the big stride of achievements by the Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) in the exploration and exploitation of oil and gas making the future base of the provincial economy certain through generating energy and resources in the province.

He assured the continued flow of resources for meeting the needs of the company. “KPOGCL and other companies have to work as money generating entities enhancing their productive activities in the province then the provincial government would provide everything to those companies”, he said.

He was presiding over a meeting to evaluate the performance of the oil and gas company of the province at the Chief Minister House Peshawar. Secretary Finance Shakeel Qadir, Secretary Minerals Muhammad Shah, SSU Head Sahibzada Saeed, Chairman CM Complaints Cell Dilroze and others also attended the meeting. The chief executive of the company enumerated the achievements of the company.

Pervez Khattak noted with satisfaction that the KPOGCL within a short span of time had achieved its targets leading the way in the oil and gas sector as compared to other provinces and even the federal agency.

“It is an achievement that the company discovered seven new wells and blocks and made functional the previously un-functional eighteen blocks thus enhancing production of oil and gas in the province’, he said.

He also appreciated the foreign investment that became partners of the company in the exploration of oil and gas in the province. He directed to give Rs 700 million and assured the provision of the committed amount of Rs 5 billion in the current fiscal year when the company shows an increase in its capacity for resource generation and money earning.

Pervez Khattak was appreciative of the private sector dynamism confining the public sector with the monitoring and regulatory role that will be laid down in the policy of his government. He said his government would never overburden the provincial exchequer and was in favour of giving autonomy to public sector entities that would certainly enhance their capacity for diversified production in the province.

The chief minister expressed satisfaction over the establishment of three oil refineries, a modern technical lab and a fertilizer plant in the province and assured to provide help for the already identified twenty-four sites having a potential for gas discovery that also includes three sites at Buner and Matani Peshawar.

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