PM for technology use in oil, gas sectors to avoid wastage, reduce prices

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ISLAMABAD, Oct 2 (APP): Prime Minister Imran Khan Friday called for utilizing technology in the oil and gas sector to reduce prices and increase foreign exchange through plugging the wastage by doing away with the traditional methods.

Chairing a meeting to discuss the enhancement of exploration, and discovery of oil and gas in the country, the prime minister said the prevailing energy challenges necessitated a well-coordinated and comprehensive strategy.

Federal ministers Omar Ayub Khan and Shibli Faraz, Special Assistant to the PM Nadeem Babar and senior officers attended the meeting.

The prime minister said the enforcement of Exploration and Production Management System would help utilizing oil and gas reserves costing lesser resources.

The system would also reduce burden on the national kitty, besides helping to provide oil and gas to the consumers at reduced prices.

During the meeting, the secretary petroleum briefed the participants about the Exploration and Production Management System, saying it would help enhance local production capacity of oil and gas.

He said the system would be based on a compiled data obtained from the state-run as well as private companies and would lead to the provision of oil and gas supply to the consumers at reduces price.