KARACHI: Prime Minister Shahid Khaqan Abbasi says that petroleum products prices will be reduced after the accomplishment of White Oil Pipeline Gasoline project.
He was addressing the foundation stone laying ceremony of White Oil Pipeline Gasoline project at Port Qasim in Karachi on Friday.
He expressed the hope that this five billion rupees project will be completed in 20 months.
The prime minister said this pipe line will have the storage capacity of two hundred fifty five thousand tons of Diesel and petroleum products.
He said that this is the project of sensitive nature and assured that this will not affect the business of tankers transporters.
He said since petroleum products across the world are supplied through pipeline because of its transportation through roads is dangerous and an incident took place at Bahawalpur is its clear proof.
Shahid Khaqan Abbasi said that because of presence of over 10 thousand tankers in the petroleum products supplying system there always exist the threats of accidents. He assured that concerns of Oil tanker transporters will be allayed.
The prime minister said that energy crisis in the country has been controlled and over 10 thousand megawatts of electricity has been added to the national grid during last four years.
He said Pakistan has been spending billions of dollars on import of furnace oil and announced that now Pakistan will not import furnace oil and thus will save billions of dollars were incurred in this regard.
The Prime Minister said that CNG in sufficient quantity is available in the country and there has been no load shedding of CNG.
He said that at present growth rate in the country is five point three percent which will be taken to the six percent. He said with accomplishment of project being undertaken through CPEC the economic growth rate will further be increased.
He said that the standard of petroleum products in the country is being raised.
Later, addressing the launching ceremony of promotion of home remittances through M-Wallet Account and policy for promotion of Small and Medium Enterprises finance at the State Bank Building in Karachi Prime Minister said economy of the country is linked with the development of the Small and Medium Enterprises.
The Prime Minister said that development of SME business is imperative for development of the economy.
He said the state bank of Pakistan is fully supporting SMEs.—Radio Pakistan