Firdous Ashiq Awan says investment being made easy


Firdous, Ashiq, Awan, investment, easy
29 Aug, 2019 4:25 pm

ISLAMABAD (92 News) – Special Assistant to the Prime Minister on Information Firdous Ashiq Awan said that investment is being made easy.

Addressing a press conference with Minster for Power Omar Ayub Khan and Special Assistant to the Prime Minister on Energy Nadeem Babar on Thursday, she said that Prime Minister Imran Khan is striving for the promotion of investment.

Minster for Power Omar Ayub Khan said that the government was making the trade easy by abolishing red-tapism.

Special Assistant to the Prime Minister on Energy Nadeem Babar said that the government had decided to abolish various unnecessary regulations to facilitate investment in the petroleum sector.

He said various initiatives, including policy reforms, are being introduced to ensure ease of doing business in the petroleum sector.

Unveiling key decisions in five areas of the petroleum sector, Nadeem Babar said that at present 24-30 approvals are required in exploration and production and 10 of them are being removed. “About 25 approvals are required for establishing a petrol pump, which too are being cut to seven.”

The Special Assistant to Prime Minister on Energy said that approvals for storage of petroleum products are also being decreased from 19 to six.

He said tax exemptions will be offered for installation and up-gradation of refineries.

Giving detail of facilitation being introduced in pipeline and gas area, the special assistant said that gas consumers would have 15-day period for payment of their bills. “A public awareness campaign about usage of domestic gas in the winter will be launched in September. A Mobile App and Portal will be launched for registration and redressal of public complaints against gas companies,” he said.

Nadeem Babar said that provision of gas connection for industry within 30 days will be ensured. “Three oil and gas discoveries have been made over the last six months while two or three more are in the pipeline,” he said.

As regards Liquefied Petroleum Gas, Nadeem Babar said a new policy has been prepared to increase domestic production of LPG and decrease its import. He said that a pricing mechanism would also be introduced about LPG.

“If any company intends to install Liquefied Natural Gas terminal in the country and it does not want to sell it to the government, it will not require any approval from the government,” he added.




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