Dar pledges sweeping reforms in energy sector

ISLAMABAD: Deputy Prime Minister Ishaq Dar on Tuesday pledged sweeping reforms to stabilise Pakistan’s energy sector, and for tackling circular debt, gas pricing, and security concerns while pushing for increased investment in oil and gas exploration.

Chairing a high-level meeting, Dar underscored the government’s commitment to fostering a secure and investor-friendly environment for the Exploration and Production (E&P) sector. He welcomed the upcoming offshore and onshore bid round, calling it a major step towards unlocking Pakistan’s hydrocarbon potential.

While Federal Minister for Petroleum Ali Pervaiz Malik briefed the participants on the efforts to address industry challenges, emphasising integrated energy planning and greater reliance on domestic resources.

Dar praised the decision to allow E&P companies to sell 35 per cent of their gas to third parties, a move expected to enhance competition, improve payment flows, and attract fresh investment.

Security for oil and gas operations was another critical focus, with the meeting acknowledging the role of the Pakistan Army and law enforcement agencies in safeguarding exploration sites, particularly in volatile regions such as Waziristan, where the Shewa discovery was successfully linked to the national gas pipeline.

The meeting also reviewed LNG procurement challenges and long-term energy strategies aimed at reducing import reliance. Dar directed authorities to expedite regulatory approvals and ensure uninterrupted gas supplies for industries and consumers.

Reaffirming the government’s resolve, Dar vowed swift action to implement reforms, strengthen Pakistan’s energy security, and drive sustainable economic growth.