It gives me immense pleasure to know that the Associated Group has achieved the Financial Close and Letters of credit for the establishment of its Liquefied Petroleum Gas (LPG) Extraction Plant at Jamshoro, Sindh costing US$ 31 Million.
It is a matter of great satisfaction that the production from the plant will meet the energy needs of 500,000 Pakistani households in rural and hilly areas and provide indirect employment to over 2000 persons.
The Government of Pakistan has accorded top priority for the speedy promotion of the oil and gas sector and providing unprecedented incentives and facilities to the local and foreign investors to attract investment in this vital field of economy.
LPG is an economical, clean and environment friendly fuel. It is the most popular domestic fuel in areas where supply of natural gas is technically or operationally not feasible.
At present out of 19.7 Million households around 2 Million are using LPG whereas the rest are using natural gas, firewood, coal, kerosene etc.
The Government is pursuing its deregulation policy. All the LPG producers can either market their own LPG or through licensed marketing companies.
Similarly, all marketing companies can now develop their LPG market, as they wish, except for use in automotive sector.
In order to ensure LPG supply in remote hilly areas, with a view to protect our precious forests, each company is obligated to supply a fixed quota to these areas.
During the last year numbers of LPG Companies have been increased from 25 to 62 and an investment to the tune of Rs 1000 Million was made.
The Regulatory body namely oil and Gas Regulatory Authority has been established to safeguard interest of all stake holders.
I wish the Associated Group all success in its future endeavours.
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