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Summary Advisor on petroleum resources Dr. Asim Husain on Monday unveiled the new Petroleum Policy.
Unfolding the policy‚ Dr. Asim said it is aimed at promoting oil and gas exploration in the country to overcome energy crisis.He said more incentives will be given to the investors specially foreigners to expedite exploration activities in the country. He said indigenous resources will also be utilized to enhance oil and gas production.It may be recalled that it is the second petroleum policy of the present government.Dr. Asim said under the new policy initially 15 companies will invest 100 million dollars in oil and gas exploration sector. He hoped that countrys gas production will reach upto 5 billion cubic feet by the mid of next year. He said there will be no gas load shedding in next winter however‚ it will continue for CNG sector.
