Directs for formulating robust policy on e-commerce
\nISLAMABAD
\nPrime Minister Imran Khan has directed the authorities concerned to fast-track the issuance of licences for domestic oil and gas exploration, terming it the cheapest source of natural gas.
\nThe prime minister said this while chairing a high-level meeting on Wednesday to review the gas situation in the country.
\nThe prime minister also directed the concerned departments to remove hurdles in the process of installation of new LNG terminals and virtual pipeline projects by investors. In this regard the Ministry of Maritime Affairs, Ministry of Petroleum and OGRA were directed to coordinate and also take all other stakeholders on board including the investors.
\nThe prime minister while emphasising the importance of North-South Gas Pipeline, directed to ensure its execution without further delay in the agreed timelines.
\nThe meeting was briefed about the demand and supply situation from the domestic reserves, shortfall and import of LNG. It was informed that the current constrained demand of gas in the country is 4,700 MMCFD which increases to 6,000-6,500 MMCFD during the winter season. The current domestic supply amounts to 3300 MMCFD which is decreasing every year.
\nThe meeting was told that the resulting shortfall has to be managed by importing LNG. With the current infrastructure a shortfall of nearly 1000 MMCFD in winters arises for which multiple options are being adopted.
\nThe meeting was briefed that for a short term, the existing capacity of domestic terminals is being optimised and the process of issuance of virtual pipeline licences is expedited. In addition, the installation of two new LNG terminals is underway with all bottlenecks being removed on priority basis.
\nThe meeting was attended by Finance Minister Shaukat Fayyaz Tarin, Energy Minister Hammad Azhar, Planning Minister Asad Umar, Minister for Maritime Affairs Ali Haider Zaidi, SAPM Mahmood Maulvi and officials of the concerned departments.
\nSeparately, Prime Minister Khan on Wednesday directed SAPM on E-Commerce Senator Aon Abbas Buppi to formulate a \u201crobust policy\u201d to govern the industry and create new jobs and ease of doing business for young people.
\nDuring the meeting, they discussed the establishment of an e-commerce university as well as matters related to e-commerce. Moreover, they also deliberated over the holding of a freelancer\u2019s conference.
\nBuppi told the prime minister about the first e-commerce university being established in Pakistan.<\/p>\n
The local e-commerce industry is just picking up with online retail accounting for about 2 percent of gross domestic product. Pakistan has seen more money flow into its nascent technology sector during 2021 than in the previous six years combined. Many global venture capital firms have invested in Pakistan for the first time in the current wave, including Kleiner Perkins, an early investor in Google and Amazon.com Inc. Investments recently crossed $300 million after two e-commerce companies raised fresh funds. TLTP<\/p>\n","protected":false},"excerpt":{"rendered":"
Directs for formulating robust policy on e-commerce ISLAMABAD Prime Minister Imran Khan has directed the authorities concerned to fast-track the issuance of licences for domestic oil and gas exploration, terming it the cheapest source of natural gas. The prime minister said this while chairing a high-level meeting on Wednesday to review the gas situation in […]<\/p>\n","protected":false},"author":2,"featured_media":224430,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[2323,213,2322,707],"class_list":{"0":"post-235738","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news","8":"tag-exploration","9":"tag-gas","10":"tag-licences","11":"tag-oil"},"yoast_head":"\n