Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

Govt. to spend Rs 581.8 million on six petroleum sector projects

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Sep 06, 2019: The government will spend Rs581.812 million on four ongoing and two new petroleum sector projects under the Public Sector Development Programme (PSDP 2019-20) to achieve self-sufficiency in the energy sector.

According to the official data, an amount of Rs433.852 million has been earmarked in the Public Sector Development Programme (PSDP 2019-20) for four ongoing schemes, out of which Rs416.535 million would be spent to acquire four drilling rigs with accessories for the Geological Survey of Pakistan, Rs3.655 million for appraisal of newly discovered coal resources of Badin Coal Field and its adjoining areas of Southern Sindh, Rs10.553 million to explore and evaluate coal in Nosham and Bahlol areas of Balochistan, and Rs 3.109 million for exploration and evaluation of metallic minerals in Uthal and Bela areas of district Lasbela.

While, Rs147.960 million have been kept for two new projects, out of which an amount of Rs70 million would be utilized in expansion and up-gradation of Pakistan Petroleum Corehouse (PETCORE) for its sustainable operations to facilitate oil and gas exploration research in the country, and Rs 77.960 million for up-gradation of Hydrocarbon Development Institute of Pakistan (HDIP)’s POL testing facilities at Islamabad, Lahore, Multan, Peshawar, Quetta and ISO Certification of Petroleum Testing Laboratory at Islamabad.


Posted on: 2019-09-06T13:21:00+05:00