Frameworks needed to boost energy market in Pakistan

Karachi: The 7th Pakistan Energy Forum 2015, with the theme “Streamlining energy priorities for developmental and economic growth” concluded in Islamabad with distinguished speakers providing strategic insight on all critical issues and opportunities in the Oil, Gas, Power, and Alternatives industry of Pakistan.

Experts stressed on the need to stabilize prices and foster investments, while ensuring optimum supply of fossil fuels and other energy resources in the country. All stakeholders renewed their commitment for proactive operational enhancements to ensure a robust future.

The Former Minister of Finance, Dr. Salman Shah opined, “The main task of the government is to devise and implement frameworks for a vibrant competitive energy market in Pakistan”

In his concluding remarks of the final session, Werner Liepach, Country Director, Asian Development Bank (ADB) said Pakistan has great potential for indigenous resources. The key challenge to unlock this potential is the creation of the right policies and incentive structures to attract the required capital.

A cross-section of delegates from government, regulatory bodies, power-generation enterprises, oil & gas companies, stakeholders, provincial energy organizations, and members of the Diplomatic Corps attended the day-long conference.

Organized in collaboration with key stakeholder groups, research-partnership with the SDPI, and supported by the Energy Department, Government of Sindh, Khyber Pakhtunkhwa Oil and Gas Company Limited, Ocean Pakistan Ltd, Reon Energy Ltd, HUBCO, Laraib Energy Ltd and Presson Descon International Ltd.

Various concerned government ministries and regulatory authorities also extended valuable support and participated in the forum. These included; Oil & Gas Development Company Ltd (OGDCL), Ministry of Petroleum & Natural Resources, Planning Commission Government of Pakistan, Water and Power Development Authority (WAPDA), Asian Development Bank (ADB), Independent Power Producers Advisory Council (IPPAC), Sustainable Development Policy Institute (SDPI), Punjab Board of Investments, Alternated Energy Development Board (AEDB), Baluchistan Economic Forum, Quaid e Azam Solar Power Ltd and FFC Energy Ltd. Climate Change experts gave their insights on the ecological impact of the Oil, Gas and Energy industries.

Speaking on overall theme of the conference, Dr. Gulfaraz Ahmed, former Secretary Petroleum and a learned scholar said, “E&P companies in Pakistan can limit the impact of decrease in revenue due to falling oil price by concentrating on high ranging exploration prospects and consolidating their discoveries through focus on development and enhancement in production.”

Among the speakers included, Mohammad Rafi, Managing Director, OGDCL; Maha Kamal, Energy Analyst, and Engr. Arshad H. Abbasi of SDPI; Ishteqaq A. Kaukab, Chief Engineer WAPDA, Qasim Niaz, Chairman, IPPAC; Dr. Qamar us Zaman, National Expert of Climate Change; Syed Imran Shah, Project Director, FFC Energy; Dr. Nayyer, Physicist, QA University, Islamabad; Shaukar Aziz Popalzai, President, Balochistan Economic Forum, Raziuddin, CEO, KP Oil & Gas Company and Lubna Pathan, DG, Punjab Board of Investment.

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