Peshawar: The provincial government has decided to increase oil and gas production by exploring maximum reserve as well as establish four new industrial zones besides an oil refinery in the province. Similarly a comprehensive plan has been chalked out to provide cheap electricity to industries by setting up hydel and thermal power houses so that maximum national and foreign investor could be attracted to the province.
It was disclosed in a meeting with Chief Minister Khyber Pakhtunkhwa Pervez Khattak held in CM Secretariat Peshawar to discuss matters related to the industrial needs for energy and setting up new power houses accordingly.
The meeting was attended by Advisor to CM on Economics & Investment Rafaqatullah Babar, ACS Khalid Pervez, Secretary Energy & Power Sahibzada Saeed, Secretary Finance Saed Badshah Bukhari, other concerned quarters and authorities of MOL, a foreign company engaged in oil and gas exploration in southern districts and Britain Investment Company Zimbazi.
On this occasion the foreign companies made an offer to invest in new projects of energy in the province. Advisor MOL Ali Murtaza Abbas told the participants that his company has planned to increase the gas production by 34MMCF oil production by 7600barrel and LPG production by 300tons per day from 9th of this month.
It merits a mention that MOL is already producing about 40,000 barrel oil and 270MMCF gas per day in KP while increase in the same and production of LPG would provide a sound footing for industrial development in the province.
The MOL advisor further told that his company would utilize 15MMCF gas out of the extra gas production to set up a thermal power house with electricity production capacity of 60mw and the same could be used for industrial purposes as desired by the chief minister. Similarly the additional production of oil and gas as well as bulk LPG would also promote the production of petroleum by-products.
Pervez Khattak while eulogizing the performance of MOL, expressed the confidence that it would fully cooperate with the provincial government for establishment of oil refinery while his government has also pledged to provide cheap electricity to all industrial zones through setting up hydel and thermal power houses and creating attraction for maximum industrialization over here.
He also appreciated the generous offer of George H Richmond, CE Zimbazi, for huge investment in energy, mineral, natural resources and highways sectors. He said that his government has decided to cope up with the energy issue on emergency grounds as he said all our industries were faced with standstill situation due to energy crisis.
Chief Minister said that peace was coming back to Khyber Pakhtunkhwa. “Our people are laborious and hospitable enough and wanted industrial and economic development in the province so that the menaces of unemployment and poverty can be rooted out for good and backwardness of the province can be turned into progress and prosperity”, he maintained.
He assured that the provincial government was quite ready to provide all guaranties to the local and foreign investment companies including securities, cheap electricity and skilled manpower as he said it was in our larger national interest.
Later the delegation of Zimbazi also called on the advisor to chief minister on mineral development Ziaullah Afridi at his office, as per advice of the chief minister. The delegation was led by its chief executive George H. Richmond.
They expressed their willingness to invest in exploration of copper, gold, iron ore, precious stones and other minerals in Khyber Pakhtunkhwa specially in District Chitral. Secretary Minerals Mian Waheed and Director Minerals Shakirullah Khan were also present on the occasion.
Ziaullah Afridi assured the delegation that the government of Khyber Pakhtunkhwa would not only encourage foreign investors but would also provide them all possible facilities through one window operation.
He said all out steps would be taken for the protection and security of the foreign investors. Ziaullah hoped that foreign investment in mineral resources would help greatly in changing the lot of people of this province.