ISLAMABAD (Dunya News) - Federal Minister for Petroleum Musadik Malik underscores the need for embracing environment-friendly technology to ensure sustainable development in Pakistan.
In a recent address at a ceremony held in Islamabad, Minister Malik highlighted the pressing issue of environmental instability, noting that despite a purported zero carbon footprint, Pakistan was grappling with the adverse effects of climate change.
He pointed to alarming indicators such as rising global temperatures and increased incidents of extreme weather events, including flash floods in Sindh that have devastated numerous villages, exacerbating food insecurity in the region.
Acknowledging the dual challenge of environmental and economic instability, Minister Malik stressed the imperative for concerted action to address these issues.
He revealed that Pakistan's total exports stand at $30 billion, with energy exports comprising a significant portion at $20 billion.
To confront these challenges head-on, Minister Malik announced plans to ramp up petroleum products production, citing its critical role in ensuring energy security and fostering economic growth.
He outlined various policies aimed at facilitating this increase, including incentivising consortiums for small companies and fostering cooperation with international stakeholders.
Underlining the centrality of energy security to economic development, Minister Malik reiterated the importance of adopting environment-friendly technologies to meet the nation's energy demands sustainably.
He emphasised the utilisation of national resources as a key strategy in this endeavour.