New petroleum policy to enable investor friendly environment: Dr Asim Hussain

Islamabad: Dr. Asim Hussain, Special Assistant to the Prime Minister for Petroleum & Natural Resources has said that the new Petroleum (Exploration & Production) Policy 2012 would enable investor friendly environment.

He was chairing a meeting with provincial representatives regarding new Petroleum Policy 2012. Muhammad Ejaz Chaudhry Secretary Petroleum & Natural Resources, Nasir Mehmood Khosa Chief Secretary Government of Punjab, Raja Muhammad Abbas Chief Secretary Government of Sindh, senior officers from Governments of Khyber Pakhtunkhwa and Balochistan and senior officers of the Ministry

of Petroleum & Natural Resources attended the meeting.

Dr. Asim Hussain congratulated the entire team comprising of the officers of the Ministry of Petroleum & Natural Resources and the provincial focal persons who laboriously worked on the preparation of

new Petroleum (E&P) Policy 2012. Secretary Petroleum informed that issues pertaining to royalties, zoning and well head pricing have been mutually agreed upon and provinces have no reservations on these issues.

Provincial representatives agreed that a representative of the provincial governments would be part of the concessions awards committee as well as Directorate of Petroleum Concessions and the average well head pricing in each zones would remain uniform. It may be recalled that the Council of Common Interest (CCI) accorded “in-principle” approval to the Petroleum (Exploration & Production) Policy 2012 in its meeting on 9th February, 2012.

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