State Minister for Petroleum Musadik Malik has said that the government will soon announce its refinery policy which will pave the wave for an investment of $12 billion to set up a world-class refinery in the country.
The Institute of Strategic Studies Islamabad (ISSI) organized its third Thought Leaders Forum (TLF) on Thursday under the title “Pakistan’s Energy Vision: A Harbinger for Economic Development.”, with the minister as the keynote speaker.
The petroleum minister said that subsidies have hindered the growth of energy sector infrastructure. He said that productivity needs to be increased in both the public and private sectors through innovation and technology infusion.
He said that the major problems of the energy sector are availability, affordability, and fiscal sustainability. He said that the construction of pipelines especially from Central Asia to Pakistan like TAPI is necessary.
The minister said that is also important to work on indigenizing gas exploration in the country to build capacity and focus on renewable sources of energy.