Prime Minister Shehbaz Sharif on Thursday felicitated the country on the discovery of significant oil and gas reserves in Kohat district of Khyber-Pakhtunkhwa, dubbing it a major milestone for Pakistan’s domestic energy sector.
Chairing a high-level meeting on the petroleum and gas sector, he praised the dedicated work of relevant departments and emphasized the need to prioritize local exploration to conserve precious foreign exchange spent on petroleum imports.
Earlier this week, the Oil and Gas Development Company Limited (OGDCL) reported the discovery of new reservoirs in the Nashpa Block, producing 4,100 barrels of oil per day alongside 10.5 million cubic feet of gas per day.
During the meeting, officials noted that domestic consumers saw improved gas pressure this winter. They said work on RLNG connections had ramped up, with a target of 350,000 new connections by June 2026. They also informed the premier that pipelines for the Sheva and Batani gas fields have been commissioned, and construction on the Kot Palak gas field pipeline is ongoing.
The prime minister ordered relevant officials to digitize the entire supply chain for the import and domestic utilization of oil and gas on a priority basis. “With the digitization of the oil and gas supply chain, the smuggling of these products will be effectively curbed, which will ultimately benefit the national exchequer,” he said.
Economic reforms
Also on Thursday, the prime minister chaired a review meeting on economic reforms, investment promotion, and developmental projects. Highlighting the broader economic context, he stressed the importance of implementing government policies on economic governance, calling for practical proposals and a comprehensive strategy with minimal implementation time.
Sharif emphasized that coordination among ministries and collaboration between federal and provincial governments are crucial for effective reforms and sustainable economic growth. He directed ministries to prepare recommendations to facilitate both domestic and foreign investors, promote exports, and ensure timely execution of development projects. He also instructed Pakistani embassies worldwide to provide initial orientation and relevant information to foreign investors.
The prime minister stressed on equally focusing on all key sectors, including industry and agriculture, to attract investment. Ministry representatives informed him on progress of ongoing projects as well as updates on economic, institutional, and administrative reforms.