Prime Minister Nawaz Sharif has rejected the proposal of Oil and Gas Regulatory Authority (OGRA) to increase gas price for now, but a hike may not be put off for long, said Musadik Malik. Speaking at a news conference here on Friday, the spokesman of Prime Minister, Malik maintained that for the first time in the history of the country oil prices have been reduced twice in a span of two months.
He added that a significant decrease in oil prices would be announced by the next month. Malik said that these decisions would bring down the cost of energy while the cost of production would also go down, which would in turn reduce inflation. Malik also issued a stern warning to the planned November 30 meeting of Pakistan Tahreek-e-Insaf (PTI). We are not going to tolerate lawlessness this time and would not allow a few thousands people to make lives of millions hostage,” he added. Malik, however, said the government accepts their democratic right to raise voice. He said that the domestic consumers are facing a severe gas shortage due to 2 billion cubic feet gap in demand and supply of the commodity.
Prime Minister’s spokesman also recounted some of the Economic Co-ordination Committee (ECC) of the Cabinet decisions taken in the last week and spelled out reasons behind Prime Minister’s recent visits to Germany and Britain. The Prime Minister’s visits to Germany and Britain were part of government strategy to invite foreign investors for making investment in Pakistan’s power sector. Malik added that government has short-, long- and medium-term plans to overcome power crisis but investment, technology and know-how remain challenges. He further stated that a committee constituted by the Prime Minister on energy is working to overcome loadshedding before expiry of the tenure of the present government. He said that a short-term plan envisages power generation through gas wind and solar sources while long-term through hydel and coal sources. The Prime Minister’s advisor claimed that 2400 MW electricity will be added to the system before next summer and 1300 MW in the next five to six months through gas and LNG. According to Musadik Malik, 1000 MW would be generated by gas which was discovered during a detailed audit of each and every well by Ministry of Petroleum and Natural Resources. Another 300 MW would be generated and added to the system through LNG import before March 2015. He maintained that 450 MW would be generated from Nandipur while 500 MW from Guddu.
SOURCE: RECORDER REPORT