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Govt releases Rs296mn for nine petroleum projects

Govt releases Rs296mn for nine petroleum projects
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December 08, 2022 (MLN): The government has released funds of Rs296.1 million to finance nine ongoing petroleum-related projects during the first 4MFY23 under the Public Sector Development Programme (PSDP 2022-23).

“Out of the total disbursement of Rs296.10mn, around Rs11.44mn have been spent on petroleum projects to accelerate oil and gas exploration activities during a four-month period from July-October 2022”, as reported by APP.

According to the PSDP document, the incumbent government assigned Rs303.700mn for the expansion and up-gradation of Pakistan Petroleum Corehouse for its sustainable operations to facilitate oil and gas exploration research in Pakistan (HDIP), and Rs150.560mn for the establishment of the National Mineral Data Centre (NMDC) Directorate General of Minerals.

Furthermore, the government specified Rs100mn for geological mapping on 50 toposheets, out of 354 unmapped toposheets of the outcrop area of Balochistan Province, Rs200mn for Pakistan National Research Programme on Geological Hazards (earthquakes and landslides).

Also, Rs70mn for legal consultancy services for drafting of Model Mineral Agreement and updating of regulatory framework (Federal and Provincial Minerals/Coal Departments).

Similarly, the government released Rs100mn to supply 10 MMCFD gas/RLNG at the doorstep (zero point) of Bostan Special Economic Zone, Balochistan (SSGCL), and Rs256.735mn to supply 40 MMCFD gas/RLNG at the doorstep (zero point) of Allama Iqbal Industrial City Special Economic Zone, Faisalabad (SNGPL).

Moreover, Rs224.809mn was allocated for strengthening and up-gradation of the Karachi Laboratories Complex (KLC) at HDIP Operations Office, Karachi, and Rs74.705mn to supply 13 MMCFD gas/RLNG at the doorstep (zero point) of Bin Qasim Industrial Park Special Economic Zone, Sindh (SSGCL).

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Posted on: 2022-12-08T13:07:12+05:00


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