Underlining the vital link between energy sources and the momentum of growth, Prime Minister Shaukat Aziz said on Friday the country's energy needs were increasing by 10-12 percent per annum.
The government is trying to increase the energy capacity of the country both by developing the indigenous resources and increasing import, he said while talking to Tony Hayward, CEO of British Petroleum, who called on him at the PM House.
Shaukat Aziz said government's policies of privatisation, deregulation and liberalisation coupled with consistency and transparency in transactions and a level playing field provided to the businessmen, have made Pakistan an attractive place for investors, and investments today are all-time high in the country.
He said negotiations are going on over Iran-Pakistan-India as well as the Turkmenistan-Afghanistan-Pakistan gas pipeline projects and we are hopeful about the outcome of the talks.
The Prime Minister said there was huge potential in the onshore and offshore exploration besides privatisation of the state-owned oil and gas units.
He asked the British Petroleum to avail the opportunities offered by Pakistan and to look into the possibilities to enter into joint ventures with the public sector companies like OGDCL and PPL in exploration and production.
Shaukat Aziz also asked British Petroleum to bring new technologies to develop oil and gas sector to its true potential.
Tony Hayward appreciated the investment-friendly policies of the government and said his company would continue the promotion of oil and gas industry in Pakistan and has already submitted a bid for an offshore exploration block.
He further said British Petroleum was also interested to take part in the privatisation activities in Pakistan and has shown keenness in renewable energy areas such as solar, wind and bio-mass.
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