PESHAWAR:  The President Pakistan Businessmen and Intellectuals Forum (PBIF) today said that oil and gas reserves in the Khyber Pakhtunkhwa (KP) province could change the fate of Pakistan.

President PBIF Mian Zahid Hussain said that the province have known nine trillion cubic feet of recoverable gas reserves and 500 million barrels of oil, while investing in KP oil and gas sector can help in reducing unemployment and militancy.

He further said that presently KP provinces has been producing half of the oil of the total national output while 10 percent of the gas which has been provided to the other provinces.

He said that OGDC and MOL have been actively participating in exploring activities while other multinational companies have not played active role due to security fears.

Hussain said that dozens of American, Chinese, Kuwaiti and other companies have been keen in investing in KP oil and gas sector provided their reservations should be tackled. He said that employing latest technology could increase the volume of recoverable oil and gas reserves which will help Pakistan in a great way.