Abbasi said the import of LNG would also help the country overcome energy shortage issue. He said Pakistan would be the second largest LNG importing country in next three years with total import of 20 million tons. He ruled out any wrongdoing in the agreements of China-Pakistan Economic Corridor (CPEC) project saying that all the rumours in this regards were uncalled for and contained no truth. He said CPEC agreement is transparent and has no grey areas.
"Government is trying to maintain the petroleum prices whenever they go higher and it is the top priority that the impact of soaring oil prices should not be passed on to the consumers," he said, adding that Pakistan is a country that imports oil and gas and bear a big cost on account of energy.
Abbasi said Pakistan is now the second largest consumer of furnace oil as its usage is being discouraged elsewhere in the world due to the environmental issues. He said that in Pakistan, the emphasis on alternative energy is being given and solar energy sector is encouraged by declaring its import zero-rated. He said every country supports the solar energy and our government is also encouraging solar power.
Earlier, speaking at the inaugural ceremony he speculated the increase on dependence on LNG in the country by manifold in the years to come. The petroleum minister said that the government was trying to maintain the gas prices so that the consumers would not be over-burdened. He lauded the efforts of the organisers in promotion of safe and environment-friendly energy in the country.
The chairman, Pegasus Consultancy, Asim Siddiqui also spoke on the occasion. He said that the efforts by the present government for elimination of the menace of load-shedding are laudable. He said that many power plants of various sources are coming up and it is hoped that the nation would get rid of load-shedding by early 2018. He said his organisation would continue its efforts in promoting the energy sector and bringing in the latest machinery, technology and expertise in the country through POGEE.
Managing Director, Pegasus, Aamer Khanzada said that the Pegasus has given a new dimension and reform to the event organising industry and Pegasus has revitalized opportunities for manufacturers and their related technology stakeholders who have benefited from the trade and investment channels operating in our vast and diversified business environment. He praised the government's efforts for working on TAPI (Turkmenistan-Pakistan-Afghanistan-India) gas pipeline that is expected to be completed by 2019. He also lauded the FDI (foreign direct investment) to the tune of $1.2 billion during current year. The minister visited the stalls and praised the quality of the technology and equipment displayed by the exhibitors of over 30 countries at the mega show.
Copyright Business Recorder, 2017