The petroleum and natural resources minister has revealed that the liquefied petroleum gas has a share of one percent in the energy mix of the country and his ministry is attempting to work out a policy allowing the fuel to have at least a five-percent of share.
Minister Shahid Khaqan Abbasi addressing the first liquefied petroleum gas and liquefied natural gas conference supported by his ministry on Thursday said, "The Petroleum Ministry has sent a summary to the Council of Common Interests, seeking powers to regulate the fuel prices to provide relief to consumers. "For the past 15 years, there has been no increase in domestic natural gas production which stands at four billion cubic feet per day. The demand has jumped to eight billion cubic feet per day and the government is trying to enhance the local production."
He then went on, "During the term of the current government, 70 gas discoveries have been made, but the rate of depletion of older gas reserves is higher than that." In his post-conference talk with the media, the minister claimed his government would deal with the energy crisis before the end of its five-year term. "The solution to the energy crisis lies in gas. If we are able to end the gas shortages, there will be no power outages before the end of our tenure in our five-year tenure," he added.
Faced with a crop of questions about seizing his ministry's record by the National Accountability Bureau during an investigation into a case of his predecessor, Asim Hussain, the minister denied that any such incident ever happened. But he did say his minister was ready to help the bureau and furnish it with the record if the latter require so. Then he shifted back to Pakistan being the only country where the petroleum product prices were lower than those compared with any other country in the world.
"In the future, they will also pass on relief to the public if the prices drop in international market," he added. Also, he did rue the country's dependence on the imported gas. On a question about the proposed Pakistan-Iran gas pipe line, the minister said, "After lifting the sanctions on Iran, we are in close liaison with Iran." He also said he hoped soon there would be a positive development.
Those also sharing some ideas at the conference were LPG Association of Pakistan Chairman Farooq Iftikar, Interstate Gas Systems Managing Director Mohsin Saulat, his Private Power Infrastructure Board counterpart, Shahjahan Mirza, Punjab Energy Department Secretary Asad Gilani, Planning Commission of Pakistan Energy member Syed Akhtar Ali and representatives from the Sui Northern and Southern Gas Pipelines Companies and the Pakistan State Oil.