ISLAMABAD-Special Assistant to Prime Minister on Petroleum, Nadeem Babar has said that physical work on a new trunk pipeline over 1100 km capable of 1.6bcfd transmission from the North to South of the country will begin in the 1st quarter of 2021.  Special Assistant to the Prime Minister on Petroleum, Nadeem Babar stated that this while talking in a virtual event hosted by US Pakistan Business Council hosted. US Pakistan Business Council Friday hosted a virtual event titled Explore Pakistan: A US Pakistan Business Council (USPBC) Virtual Series on Business Opportunities in Pakistan’s energy sector.

Minister for Energy Omar Ayub Khan and Nadeem Babar, SAPM on Petroleum had been invited by USPBC to brief US business community regarding government of Pakistan efforts to mitigate the ever-growing energy demand of domestic consumers and industry, recent policy developments in the energy sector, government’s reforms in the oil and gas sector and incentives for investment in the energy sector.  The event was chaired by Steven Kobos, Chairman US Pakistan Business Council, President and Managing Director, Accelerate Energy who welcomed the dignitaries and underlined that that the virtual series has been initiated by USPBC to reinvigorate the development of US Pakistan business portfolio, especially in the energy sector. While addressing the USPBC members on the opportunities for investment in the power sector, Minister Omar Ayub Khan underscored the government policy initiatives of increasing the renewables share of energy in the total energy mix and invited US investment in this sector. He noted that the government is going into a competitive market for power distribution and has developed an Integrated Generation Capacity Expansion Plan to align the country’s demand and supply parameters and investment decisions accordingly. 

The minister noted that a specific policy for small hydro power has been developed to ensure that benefits of renewable and cheap electricity is available to consumers. While increasing the capacity to ensure sustainable supply of electricity, an effort to move towards cleaner fuel is being made and invited US companies to invest in these areas. SAPM on Petroleum, Nadeem Babar spoke on the business climate in Pakistan in the oil and gas sector and shared an overview of the pro-business policies being pursued by the government.