Dr Asim Hussain, Special Assistant to the Prime Minister for Petroleum and Natural Resources, has said that the new Petroleum (Exploration & Production) Policy 2012 would enable investor-friendly environment.
He was chairing a meeting with provincial representatives regarding new Petroleum Policy 2012 here on Friday, which was attended by Muhammad Ejaz Chaudhry Secretary Petroleum & Natural Resources, Nasir Mehmood Khosa Chief Secretary Government of Punjab, Raja Muhammad Abbas Chief Secretary Government of Sindh, senior officers from Governments of Khyber Pakhtunkhwa and Balochistan and senior officers of the Ministry of Petroleum & Natural Resources.
Dr Asim Hussain congratulated the entire team comprising officers of the Ministry of Petroleum and Natural Resources and the provincial focal persons who laboriously worked on the preparation of new Petroleum (E&P) Policy 2012. Secretary Petroleum informed that issues pertaining to royalties, zoning and well-head pricing had been mutually agreed upon and provinces had no reservations on those issues.
Provincial representatives agreed that a representative of the provincial governments would be part of the concessions awards committee as well as Directorate of Petroleum Concessions and the average well head pricing in each zones would remain uniform. It may be recalled that the Council of Common Interest accorded "in-principle" approval to the Petroleum (E&P) Policy 2012 in its meeting on February 9.-PR
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