SIFC Takes Steps to Boost Petroleum Sector with Increased Share Sales and Gas Reserve Policies
Islamabad:The Special Investment Facilitation Council (SIFC) is implementing effective measures to increase the sale ratio of shares in petroleum companies and promote growth in the sector.
According to the recommendations made by SIFC, regulations regarding the sale of new gas reserves have been relaxed. Exploration and Production (E&P) companies will now be allowed to increase the share of gas reserves allocated to them from 10% to 35%. Additionally, these companies will be permitted to either use the Sui Gas network or lay their own pipelines to ensure timely gas delivery.
The primary objective of this decision is to optimize the use of gas reserves, foster transparency, and provide equal opportunities for the development of the private sector.
With this initiative, it is expected that private companies will not only help meet the overall market demand for gas but also contribute to reducing circular debt in the industry.
The government’s significant step, with the support of SIFC, to address the financial challenges faced by Sui gas companies has been hailed as a commendable move aimed at strengthening the energy sector.
