Pakistan to setup world-class refinery worth $12 billion
Islamabad, The Gulf Observer: The government’s vision of the energy sector is to energise the whole sector. Energise the poor and create the infrastructure that allows them upward social mobility, was said by the keynote speaker Senator Dr. Musadik Masood Malik while addressing the Thought Leaders Forum (TLF).
The Institute of Strategic Studies Islamabad (ISSI) organized its third TLF on November 17, 2022 under title, “Pakistan’s Energy Vision: A Harbinger for Economic Development.”
Senator Dr. Musadik Masood Malik, Minister of State Ministry of Energy, Petroleum Division was the keynote speaker. Ambassador Aizaz Ahmad Chaudhry, Director General, ISSI in his welcome remarks highlighted the relevance of the topic chosen for discussion. Earlier, Dr. Talat Shabbir, Director China-Pakistan Study Centre, in his introductory remarks apprised the audience about the significance of TLF.
Terms building of pipelines from Central Asia to Pakistan like TAPI as need of the hour
Dr. Malik in his address said that the subsidies have hindered the growth of energy sector infrastructure. Productivity needs to be increased in both the public and private sectors through innovation and technology infusion.
The major problems of the energy sector include availability, affordability, and fiscal sustainability. Therefore, building pipelines especially from Central Asia to Pakistan like TAPI is necessary. Also, it is important to work on indigenising gas exploration in the country to build capacity and focus on renewable sources of energy.
He further stated that Pakistan is soon aiming to announce its refining policy and is expected to attract an investment of 12 billion US dollars to setup a world-class refinery in the country.
His address was followed by a Q & A session on a wide range of topics including energy security, circular debt, and self-sustainability in the energy market.
