Islamabad, November 15, 2016 (PPI-OT): The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here today with Mr. Shahid Khaqan Abbasi, the Federal Minister for Petroleum and Natural Resources to review the progress of different initiatives relating to Ministry of Petroleum and Natural Resources.
The Finance Minister shared with Mr. Abbasi that in comparison to the rest of South Asia, particularly India and Bangladesh, Pakistan has maintained the lowest prices of petroleum products in the country. The Finance Minister also said that under the advice of the Prime Minister Finance Ministry is providing as much as possible relief to the end consumers. He urged the Petroleum Ministry to focus on discovery of new fields so that the burden on national exchequer may be reduced on oil imports. The Finance Minister also mentioned that with the advent of winter there is more demand of gas and the Minister of Petroleum should give priority to the export sectors.
The petroleum Minister appreciated the stability maintained in oil prices for the benefit of the end consumers. He also discussed with the Finance Minister about the overall gas supply situation. He said that during winters the usage of natural gas by the domestic consumers goes up and his ministry will make every effort to maintain the pressure of the gas supply for domestic as well as industrial consumers. He also informed the Finance Minister that Petroleum Ministry is encouraging investment for new discoveries of oil and gas to ease the supply situation in the country. The meeting was attended by senior officials of Ministries of Finance and Petroleum and Natural Resources.
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