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.
Chief Minister Khyber Pakhtunkhwa Pervez Khattak this here on Friday while chairing a meeting.
The meeting was called to discuss matters related to the industrial needs for energy and setting up new power houses accordingly. 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 40000 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 said 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 bye-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 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 has to be restored in the province, adding that “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 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.