PARCO power project: Prime Minister for expeditious follow up of proposed plan

Islamabad: Prime Minister Syed Yusuf Raza Gilani has directed the Ministry of Petroleum to expeditiously follow the proposed plan for establishment of power project in PARCO Refinery at Kot Addu, Muzaffargarh.

He also asked the Ministry to finalize the plan for the proposed Khalifa Costal Refinery; a joint venture with UAE. He advised the Ministry to undertake the projects on fast-track and ordered immediate preparation to attract this biggest foreign direct investment.

The Prime Minister gave these instructions during a meeting with the Secretary Petroleum and Nawab Hasan Ali, Director PARCO at Prime Minister’s House here Thursday.

The Prime Minister directed the Secretary Petroleum to take immediate measure for improving the situation to ensure regular supply of oil to all parts of the country. He asked him to instruct the Attock Oil Refinery to remove the technical fault urgently which has caused shortage in some areas of Punjab and Sindh.

The Prime Minister said that exploration and development of energy resources is top priority of this Government. He added that it is extremely important to enhance production of oil and gas from domestic resources to bring out the country out of difficulties and accelerate pace of development.

He discussed the possibilities of establishment of refinery project close to Gwadar. He also discussed various issues relating to PARCO and exploration of new oil and gas fields.

The Secretary Petroleum and Director PARCO briefed the Prime Minister about the proposed Khalifa Costal Refinery project. Director PARCO stated that this project has a potential to attract US $ 6 billion foreign direct investment in the country.

The project also has a big potential to export surplus petroleum production after meeting the country demands, he added.

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