WhatsApp Logo Subscribe
For News Alert

News

Talks with Saudi govt on Reko Diq copper-gold project enter final phase: Petroleum Minister

Petroleum Minister also claimed that there will be no increase in gas prices in the country during the winter

By News Desk

September 4, 2024 07:26 PM


Twitter Share Facebook Share WhatsApp Share

Petroleum Minister Musadik Malik has claimed the government negotiation with Saudi government have entered key phase and a historic agreement is going to be made within next 2 months on the Reko Diq copper-gold project which will prove to be a game changer for the country, reported 24NewsHD TV channel.

Talking to media in Lahore, Minister for Petroleum said the government was holding key negotiations with Saudi government regarding Reko Diq which will prove successful and soon the nation will get a big surprise about it.

He said that it was need of the hour that the all stakeholders should join hands to resolve Balochistan issue. He said there was no truth that Pakistan received Rs18 billion notice by Iran for delay in Iran Gas pipeline project. He said there was still no estimate of penalty on Pakistan regarding IP gas pipeline.

Petroleum Minister also claimed that there will be no increase in gas prices in the country during the winter. He said four to five teams of the government were working to provide relief to masses on electricity prices.

Petroleum Minister said separate teams were working on electricity prices, GENCOS, circular debt and capacity payments issues.

Petroleum Minister said in terms of gas supply, there will be a major challenge in winter. Malik said decrease in power consumption in winter is a major problem which was boosting capacity payment issue. He said it was necessary to increase the consumption of electricity in winter, which is being worked out.

Musadik Malik said “If we reduce electricity prices and increase gas prices, electricity consumption may increase in winter”.

He said capacity payments can be avoided in winter if heaters and stoves are switched to electricity instead of gas.

Musadik Malik said commercial report for green refinery to come out in December. He said demand for petrochemicals is increasing worldwide. Greenfield refinery will have 50% petrochemical and 50% petroleum.

 

Reporter: Awais kiyani


News Desk


Most Read

  1. Scores of LCWU students protest harassment by clerk Scores of LCWU students protest harassment by clerk
  2. Female student of Punjab University commits suicide Female student of Punjab University commits suicide
  3. World Anatomy Day celebrated at Fatima Jinnah Medical University World Anatomy Day celebrated at Fatima Jinnah Medical University
  4. ‘Madhubala’ to be shifted to Karachi Safari Park on Nov 26 ‘Madhubala’ to be shifted to Karachi Safari Park on Nov 26
  5. Karan Johar's sharp response guels ongoing fued between Alia Bhatt and Divya Khosla Karan Johar's sharp response guels ongoing fued between Alia Bhatt and Divya Khosla
  6. Chahat Fateh Ali Khan receives hilarious reactions on his new song 'Toba Toba' Chahat Fateh Ali Khan receives hilarious reactions on his new song 'Toba Toba'