ISLAMABAD: The Pakistani prime minister’s special assistant on petroleum said at a meeting chaired by the PM on Thursday that a “national consensus” was needed against an "impending crisis" of gas shortages expected by winter 2021-22.
Pakistan is chronically short of gas for power production and to supply homes and manufacturers such as fertilizer makers, hobbling the country’s economy.
“While presenting gas production, consumption and transmission data from various provinces, it was informed that the country would face major gas shortage by winter 2021-2022,” the PM office said in a statement released after a meeting of the Council of Common Interests, a constitutional body that resolves disputes of power sharing between the federation and the provinces.
“SAPM for Petroleum gave a detailed presentation to Council of Common Interest on annual demand and supply situation of gas with special reference to future requirements and dwindling domestic gas reserves,” the statement said, adding: “It was recommended that a national consensus needs to be built for major push for new exploration and production, conservation of domestic gas and rationalization of price mechanisms to avoid impending crises.”
The special advisor on petroleum Nadeem Babar said the government was “organizing a summit of industry experts to discuss various options to meet this impending challenge and requested the provinces for their active participation.”
Pakistan last year selected groups that include Exxon Mobil Corp and Royal Dutch Shell to build five liquefied natural gas (LNG) terminals as it aims to triple imports and ease gas shortages. The terminals could be in operation within two to three years, the government has said.
National consensus needed to avoid gas shortages 'crisis' in 2021-22 — PM advisor
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National consensus needed to avoid gas shortages 'crisis' in 2021-22 — PM advisor
- Advisor recommends push for new exploration and production, conservation of domestic gas and rationalization of price mechanisms to avoid “impending crises”
- Says government organizing summit of industry experts to discuss various options to meet "impending challenge"
Pakistan, ADB ink $61.8 million agreements for three development projects
- Agreements pertain to the upgradation of ML-1 railway link, key bus project in Quetta and water sector development in Balochistan
- Pakistani official says projects will “significantly contribute” to long-term, sustainable economic growth, address infrastructure needs
ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Friday signed agreements for three major development initiatives worth $61.8 million to boost connectivity, urban transport and water sector in various parts of the country, state-run media reported.
The two side signed agreements relating to project readiness financing for the Karachi-Rohri Section of the Main Line-I, a critical link needed to transport copper and gold from the Reko Diq mine in southwestern Pakistan to export hubs, for $10 million.
Another project readiness financing agreement was signed for a bus rapid transit project in the southwestern city of Quetta worth $3.8 million. The last agreement pertained to additional financing for the Balochistan Water Resources Development Sector Project, which amounts to $48 million.
“The secretary, Ministry of Economic Affairs, expressed appreciation for ADB’s role as a trusted development partner, and its continued support to Pakistan to complement the development agenda of the country,” the state-run Associated Press of Pakistan (APP) said.
He said the critical projects would “significantly contribute” to Pakistan’s long-term and sustainable economic growth, address urban infrastructure needs of the provincial capital of Quetta, and enhance agricultural productivity in Balochistan.
ADB’s Country Director for Pakistan Emma Fan appreciated Pakistan’s commitment toward development initiatives.
“She also reaffirmed ADB’s continued commitment to working closely with the Ministry of Economic Affairs and other stakeholders to ensure its support remains aligned with Pakistan’s development priorities,” APP said.
ADB has undertaken initiatives to support Pakistan’s economic recovery by strengthening its public finances, social protection systems and helping Islamabad with its post-flood reconstruction efforts.
The bank says it has committed 764 public sector loans, grants, and technical assistance to the South Asian country totaling $43.4 billion to date.
