Pakistan’s gas sector attracting huge foreign, local investment

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The All Pakistan CNG Association (APCNGA) on Monday said over 20 multinational and local companies are keen to invest billions in the gas sector of Pakistan which should be welcomed. These companies are inclined to invest in the construction of new gas terminals, gas supply to consumers and laying down new gas pipelines, it said.

This will reduce the price of electricity and gas, improve environment, end energy crisis and tame down circular debt, said Ghiyas Paracha, central leader of the APCNGA.

The leader of the CNG sector, he said that some of those companies were already working in the country but they need government’s approval to expand their operations. 

In a statement issued here on Monday, Paracha said that local and foreign investment in the gas sector would help the government save over one billion dollars in oil import bill, provide affordable gas and electricity to domestic, commercial and industrial consumers and ensure smooth supplies.

Read more: Sindh govt, opposition threaten protest over gas outages

Investment to Provide new lease of life

Ghiyas Paracha said that the investment would provide a new lease of life to the industrial, commercial and CNG sectors, job opportunities would increase, while the government would earn handsome revenue. It will provide relief to consumers by reducing corruption while competition will benefit all stakeholders including consumes and gas distribution companies.

The working and profit of the SSGC and the SNGPL will improve, ports would be developed, the government would be able to cut subsidy in the energy sector and the constitutional issue of giving first preference to the province producing gas will be resolved.

Read more: Government takes credit for “exceptional growth” in Oil and Gas sector

The multinationals that are interested in investment in Pakistan’s gas sector include ExxonMobil, Mitsubishi, Trafigura, Eni of Italy, Vito, Gunvor Group, Petronas Global, and Qatargas. Some of these corporations are in constant contact with the APCNGA, he informed.

The local companies include Associated Group, Sapphire Group, Energas, Halmore, Engro Energy, and Bahria Foundation, Paracha added.

The leader of the CNG sector, he said that some of those companies were already working in the country but they need government’s approval to expand their operations.

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