Deputy PM calls for firm timelines for completion of initiatives related to E&P sector

Deputy Prime Minister Mohammad Ishaq Dar has emphasized the need of establishing firm timelines for the completion of all initiatives related to the exploration and production sector. He expressed this resolve while chairing the third meeting of the Committee established by the Prime Minister to develop a comprehensive action plan to address the challenges faced by the Exploration and Production (E and P) sector. The committee reviewed progress on the development of an integrated energy plan with assistance from renowned international consultants. The proposed amendments to the OGRA Ordinance to establish a mechanism for monthly or quarterly gas tariff adjustments was also reviewed and strategies for optimizing gas utilization from dedicated fields were also discussed. The Committee also examined plans for restructuring both Sui companies to transition away from an asset-based fixed return regime; digitization and automation of processes to streamline regulatory approvals; introduction of a dedicated one- window facilitation service at both federal and provincial levels. Source: Radio Pakistan