LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to speedup work on exploration of Shale gas deposits, as it would not only help resolve the issue of energy shortages, but would also reduce oil import bill, which is one of the biggest reasons of trade deficit, a statement said on Tuesday.
LCCI President Sheikh Muhammad Arshad and other office-bearers said that in the United States, Shale gas is rapidly increasing as an available source of natural gas and reducing their dependence on energy import.
They said that approval of the Shale Gas Policy Framework from the Cabinet in 2013 was a major initiative towards revival of industry and the business community was optimistic that the government will chalk out a timeframe for early completion of this pilot project and will not let it fall prey to bureaucratic hurdles, but no major progress has yet been witnessed.
Since long, the LCCI had been pressing the government to tap other energy resources instead of depending on conventional gas reserves that had been depleting fast.
They said that the Shale gas exploration is highly capital intensive and requires high level of technological expertise, private sector representatives should also be included in the project committee formed by the federal cabinet for its execution at the earliest.
The office of the Oil & Gas Development Company Limited in Islamabad. — Facebook/ogdclofficial/FileISLAMABAD: Oil...
A Bidaya Finance office seen in this undated photo.— Facebook@BidayaFinance/FileLAHORE: Bidaya Finance has chosen...
Labourers work at a construction site. — AFP/FileKARACHI: The SITE Association of Industry has proposed to the...
A representational image of gold bangles. — AFP/FileKARACHI: Gold prices in the local market dropped by Rs600 per...
This file photo taken on March 12, 2020 shows the headquarters of the European Central Bank in Frankfurt am Main,...
A fuel station worker fills petrol in a vehicle in Karachi on October 01, 2022. — PPIKARACHI: The import of High...