Conference on oil and gas in federal system: Oil and gas sector update
Tuesday, October 25th, 2011 4:19:45 by Ahmed Tariq
Conference on oil and gas in federal system: Oil and gas sector update
The Council of Common Interest (CCI) should be playing a more effective role to resolve the oil and gas issues within the country. The provinces should also be active in making policies regarding oil and gas sector and local communities should address their concerns to the regulatory body, the experts concluded.
ISLAMABAD: With support of German foreign office, forum of Federation and Centre for Civic Education Pakistan arranged a two days conference on Oil and Gas in Federal System.
It was discussed by the national oil and gas experts that Council of Common Interest should be playing a more active role in post 18th Amendments scenario in dealing with revenue earnings, royalty payments, price fixation, drilling wells of the oil and gas among federal and provincial governments.
With the new legislation being passed by the federal government of Pakistan, the provincial governments are now 50 percent owner of the assets of oil, gas and minerals in their respective provinces. As the Council of Common Interest is the only Platform where equal representations are given to every governing body, the issues or the problems should be addressed to them. The experts further added that the problems concerning energy shortfall in the country should be addressed in a timely manner.
Punjab Secretary Finance Tariq Bajwa speaking on the occasion said “energy shortfall badly affected the province and only textile export worth $850 million incurred losses along with closer of about 1300 small and medium size industrial units across the province.”
He further commented that after the introduction of 18thAmendment, the responsibility of resolving matters has shifted from federal government to the provincial governments. Mr Bajwa said that CCI is the only forum where these issues could be resolved. He suggested that CCI should be taking an active part in all decisions and new policies on oil and gas and those decisions should be approved by the CCI instead of federal cabinet. He revealed that government of Punjab has established a new department of energy to overcome growing energy crisis in the province.
Short URL: https://www.newspakistan.pk/?p=1315
Posted by Ahmed Tariq
on Oct 25 2011. Filed under Latest News, Pakistan, Sci-Tech.
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