ISLAMABAD: The federal government allocated development funds of Rs1.5 billion under the Public Sector Development Programme (PSDP) for the year 2023-24 for five ongoing and four new petroleum sector projects.

The government earmarked another Rs123 million for establishment of the National Mineral Data Centre (NMDC), Rs424.265 million for expansion and up-gradation of Pakistan Petroleum Corehouse (PETCORE) for its sustainable operations to facilitate oil and gas exploration research in Pakistan (HDIP), Rs74.5 million for geological mapping of 50 toposheets, out of 354 unmapped toposheets of outcrop area of Balochistan province, Rs5 million for legal consultancy services for drafting of Model Mineral Agreement and updating of Regulatory Framework (Federal and Provincial Minerals/Coal Departments) prepared by Mineral Wina and Rs123.1 million for Pakistan National Research Programme on Geological Hazards (Earthquakes and Landslides) – Data Acquisition along Active Faults and Identification of Potential Landslides Hotspot Zones and Rs100 million for Strengthening Up-gradation and ISO Certification of Karachi Laborites Complex (KLC). Rupees 650 million have been allocated to start four new PSDP projects.

Out of Rs650 million, Rs300 million had been spared for the project Accelerated Geological Mapping Using Modern Satellite Imagining-Based Technology for Unmapped areas in Pakistan. Similarly, Rs150 million allocated for the development of Strategic Underground Gas Storage (SUGS) at Badin and Rs100 million allocated each for Instrumental Up-gradation of Geo-science Advance Research Laborites (GARL), GSP and Islamabad to be used in economic mineral exploration and supply of gas to localities/villages in 5kms radius of gas producing fields- SNGPL.

Copyright Business Recorder, 2023