Oil, gas sector: Khyber Pakhtunkhwa government approves Rs 7.5 billion investments

The Khyber Pakhtunkhwa government has approved investments of Rs 7.5 billion for the development of oil and gas sector of the province. The decision was approved during the meeting held under the chairmanship of Chief Secretary KP, Amjad Ali khan. The meeting was also attended by the Secretary Energy and Power, Sahibzada Saeed Ahmed, Secretary Finance, Badshah Bukhari, MD Bank of Khyber and other concerned officials.
During the meeting it was decided that at primary stage investments of 7.5 billion rupees will be made in Karak and Kohat districts. These investments will be made through Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) which will not only increase provincial revenue but also employment opportunities in the province.
During the meeting, Secretary Energy and Power, Sahibzada Saeed Ahmed has termed this decision historical move towards the development of economic activities in the province. He further said the natural resources of oil & gas located in Karak and Kohad districts will be developed through this investment. The oil & gas production and exploration through the investment of private sector will proved as landmark in boosting the economic position of the province.