ISLAMABAD
\nFederal Minister for Petroleum, Dr. Musadik Malik said on Tuesday that, after a decade, 40 new offshore and 31 onshore blocks have been offered for oil and gas exploration.
\nSpeaking at the 30th Annual Technical Conference and Oil Show, he said that a significant portion of Pakistan\u2019s natural resources remains unexplored and invited international investors to capitalize on the opportunities in these newly opened blocks. \u201cPakistan is open for business, and we will provide all necessary facilitation to investors,\u201d he assured.
\nHe said that the fundamental pillars of the government\u2019s strategy for advancing the energy sector are Access to Energy, Provision of Affordable Energy, and Sustainability of Energy. The Minister further explained that to achieve these goals, the government is focusing on three key fronts including, indigenization, electrification, and liberalization.
\nHe also shared plans to introduce a policy of deregulation and price capping to open up the oil sector, said that bringing technology to the country alone would not be enough to change its destiny. \u201cContinuous innovation is essential for sustainable progress,\u201d the minister added.
\nHe stressed the importance of transitioning the oil sector to modern technology, noting that the Prime Minister\u2019s vision is for Pakistanis to live better and easier lives. \u201cProsperity will not come by simply introducing one machine; for sustainable growth, we must engage in science and research ourselves,\u201d he said.
\nThe minister also reiterated that reducing energy prices for the underprivileged is one of the government\u2019s top priorities, and efforts are underway in this regard. He said that the government is working on minimizing the environmental impact of energy consumption and is focused on increasing local energy production.
\nHe pointed out that without affordable energy, the public would struggle to access it. \u201cWe are utilizing domestic resources for energy,\u201d he explained, mentioning that significant progress is being made in electrification. \u201cWe need to change our working methods, as Pakistan has immense potential,\u201d he added.
\nHighlighting the country\u2019s energy potential, he noted that Pakistan possesses untapped shale and tight gas reserves. He revealed that the government is introducing a deregulation policy and aims to open the oil sector under a price cap mechanism. The Minister further highlighted the need to instill confidence in the youth, encouraging them to believe that they are capable of achieving anything.
\nHe added that the country will only develop when there is a sense of self-reliance. \u201cWe must focus on progress rather than conflicts,\u201d he emphasized, reaffirming that ensuring energy access for all remains a key priority for the government. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Federal Minister for Petroleum, Dr. Musadik Malik said on Tuesday that, after a decade, 40 new offshore and 31 onshore blocks have been offered for oil and gas exploration. Speaking at the 30th Annual Technical Conference and Oil Show, he said that a significant portion of Pakistan\u2019s natural resources remains unexplored and invited international […]<\/p>\n","protected":false},"author":2,"featured_media":462455,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-462430","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n