Federal Minister for Petroleum and Natural Resources Ghulam Sarwar Khan has said that government would revive and implement new petroleum policy besides bringing Iran-Pakistan pipeline project and Turkmenistan–Afghanistan–
He said that after five years, the present government would present five new blocks for exploration through open bidding soon. He said that in the past, such blocks were allotted to state owned exploration company OGDCL but to ensure competition and good results these blocks located in Baluchistan, Sindh and KP would be offered through open bidding for national and international exploration companies.
He said that work is under process on 40 blocks and by exploration five new blocks remarkable oil and gas reserves could be fetched. Rejecting the impression made by some sections of media that present government has dropped “gas bomb” over masses, he clarified that gas prices had been increased by 10 to 20 percent for majority of the consumers using 50-200 cubic meter of gas per month, having an impact of less than hundred to few hundred rupees on most of the low income people.
He said this 10 to 15 percent increase is made to meet the deficit of Rs152 billion facing gas supply companies ie SSGC and SNGPL. The minister said , 23 percent consumers used the gas network system and 60 percent consumers used Liquefied Petroleum Gas (LPG) while price of LPG cylinder has been reduced from Rs1, 600 to Rs1, 400 to benefit these 60 percent of consumers. He said that to not to disturb domestic consumers gas supply during upcoming winter season, subsidized LNG worth billions of rupees would be provided to the export oriented industry so that it could remain competitive and millions of people who lost jobs would get back employment in the textile sector.