Saba Javed

The government has released Rs296.10 million funds to advance nine ongoing petroleum-related projects during the first four months of the current fiscal year (2022-23) under the Public Sector Development Programme (PSDP) against a total allocation of Rs1.48 billion. As per information available with WealthPK, out of total disbursement of Rs296.10 million, around Rs11.44 million has been spent on petroleum projects during July-October 2022 to accelerate oil and gas exploration activities. The PSDP document shows that the government earmarked Rs150.560 million for the establishment of the National Mineral Data Centre (NMDC), Directorate General of Minerals, Rs303.7 million for expansion and upgradation of Pakistan Petroleum Corehouse (PETCORE) for its sustainable operations to facilitate oil and gas exploration research in Pakistan (Hydrocarbon Development Institute of Pakistan, Rs100 million for geological mapping on 50 Toposheets, out of 354 unmapped Toposheets of outcrop area of Balochistan province, Rs70 million for legal consultancy services for drafting of model mineral agreement and updating of regulatory framework (federal and provincial minerals/coal departments) and Rs200 million for Pakistan National Research Programme on Geological Hazards (Earthquakes and Landslides) - data acquisition along active faults and identification of potential landslides hotspot zones. Similarly, the government allocated Rs224.809 million for strengthening and up-gradation of Karachi Laboratories Complex (KLC) at HDIP Operations Office Karachi, Rs100 million for supplying 10 mmcfd gas/RLNG (re-gasified liquified natural gas) at doorstep (zero point) of Bostan Special Economic Zone, Balochistan (Sui Southern Gas Company Ltd), Rs74.705 million to supply 13 mmcfd gas/RLNG at doorstep (zero point) of Bin Qasim Industrial Park Special Economic Zone, Sindh (SSGCL), and Rs256.735 million to supply 40 mmcfd gas/RLNG at doorstep (zero point) of Allama Iqbal Industrial City Special Economic Zone, Faisalabad (SNGPL).

Credit : Independent News Pakistan-WealthPk