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Thursday December 08, 2022

‘Subsidies hindered growth of energy sector infrastructure’

November 18, 2022

Islamabad : Dr Musadik Masood Malik, Minister of State for Energy, Petroleum Division has said that the government’s vision of the energy sector is to energise the poor and create the infrastructure that allows them upward social mobility.

The Minister was delivering keynote address on ‘Pakistan’s energy vision: a harbinger for economic development' to Thought Leaders Forum (TLF) organised by Institute of Strategic Studies here Thursday.

Dr Malik said that the subsidies hindered the growth of the energy sector infrastructure. He observed that productivity needs to be increased in both public and private sectors through innovation and technology infusion. The major problems of the energy sector include availability, affordability, and fiscal sustainability, he said adding that building pipelines, especially from Central Asia to Pakistan like TAPI are necessary. He continued that it is important to work on indigenizing gas exploration in the country to build capacity and focus on renewable sources of energy.

Dr Malik further stated that Pakistan is soon aiming to announce its refining policy and is expected to attract an investment of $12 billion to set up a world-class refinery in the country.

He further stated that Pakistan is soon aiming to announce its refining policy and is expected to attract an investment of 12 billion US dollars to set up a world-class refinery in the country.

Earlier, Aizaz Ahmad Chaudhry, Director-General, ISS, presented his address of welcome.

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