Advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Hussain urged the Canadian investors to invest in Pakistans upstream petroleum sector as it carries tremendous opportunities. Canadian High Commissioner to Pakistan Rudolph Mank called on the advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Hussain here on Thursday and discussed matters pertaining to promoting energy co-operation between the two countries.
While talking to the ambassador, the advisor said that government is taking steps to exploit the untapped on-shore and off-shore hydrocarbon resources to meet the growing energy needs. Highlighting the investment opportunities in Pakistan Dr Asim said that government has announced enormous incentives and packages in the New Petroleum Policy 2009 for foreign investors in oil and gas exploration and production.
The bidding process for issuance of exploration license to the aspirant companies has been cut short to attract foreign direct investment in Pakistans energy sector. The government is pursuing fast track exploration policies as we want to be self-sufficient in indigenous gas production in the coming three years, the advisor informed the envoy.
Canadian High Commissioner said Canada wanted to build long-term and multi-faceted strong relations with Pakistan. He emphasised the need for expanding co-operation between the two countries, particularly in the energy sector. They discussed ways and means to further expand the already existing strong bilateral trade relations of 800million dollar between the two countries.-PR
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