Prime Minister Syed Yousuf Raza Gilani has said that Pakistan offers enormous investment opportunities, particularly in the field of hydrocarbons, as there is a surge in energy demand due to high economic growth and improvement in the living standard of the people.
The Prime Minister was talking to a delegation headed by Mr Paolo Scaroni, CEO/Chairman ENI Italy, which called on him here at the PMs House Wednesday. Terming energy exploration as one of the most under-explored sectors in Pakistan, the Prime Minister said that the demand is increasing rapidly and the government is encouraging investment to enhance production in this field.
He said the government is continuously monitoring the demand and supply situation of energy and will take every step to meet the demand of energy to maintain the momentum of growth and development. He said local as well as global companies are being encouraged to invest more in this sector and the response in this regard is encouraging.
Due to high demand in energy and power sector, the Prime Minister proposed that ENI Italy may also explore possibilities to invest in relevant sectors like power generation, petrochemicals besides, doing more exploration in the field of oil and gas.
The Prime Minister, while commending ENI Italy for its exploration activities, said that the Government of Pakistan desires that ENI may also expand their activities in upstream sector.
The Prime Minister said that Pakistan and Italy enjoy good economic and trade relations and called upon the need to further improve the current level of trade between the two countries. He said successful implementation of wide ranging structural reforms and good macroeconomic policies have transformed Pakistans economy into a stable and resurgent one, thus making it attractive for foreign investors.
Paolo said that Govt of Pakistans policies for investments, particularly in the field of hydrocarbon exploration are very attractive and ENI Italy has planned to enhance investments in future. He expressed keen interest in investing in offshore oil exploration and energy sector.
They will be signing an MoU on Thursday (today). ENI is an Italian based oil & gas exploration company and is doing business in 70 countries. The company primarily focuses in areas of exploration & production, gas & power, refining & marketing, construction and petrochemicals. Advisor to PM on Petroleum and Natural Resources, Dr Asim Hussain, Chairman BoI, Mr Saleem H. Mandviwala, Secretary BoI and Secretary Petroleum also attended the meeting. Italian Ambassador to Pakistan was also present on the occasion.