Deputy PM convenes second meeting of task force on gas sector on Monday

ISLAMABAD: Deputy Prime Minister Ishaq Dar, who is heading the 20-member task force on gas sector issues, has summoned its second meeting on Monday.

The meeting is expected to witness a stormy session as the Petroleum Division and E&P companies have failed to develop a consensus on the implementation framework to be submitted to ECNEC, paving way for smooth implementation of the amended E&P policy 2012 under which E&P companies were allowed to sell 35 percent gas to the private sector companies from new discoveries.

Both the stakeholders remained glued to their previous stances; rather the Petroleum Division has made its earlier proposed implementation framework more rigid ensuring the amended policy would not work.

In the earlier meeting of the task force which was held on August 17, Senator Ishaq Dar had asked stakeholders such as Exploration and Production (E&P) companies and top officials of the Petroleum Division to put their heads together to work out the consensus recommendations on the implementation framework within 2 weeks and bring it to the forum of the committee for approval, so that it could be sent to ECNEC for formal approval for making the policy operational. There are reports that the Petroleum Division has included more points in its earlier 15-point proposed implementation framework, making the CCI decision null and void. The new points the Petroleum Division has added to the earlier proposed implementation framework include i) the gas from new discoveries in the existing blocks will not be allocated to the private sector, and ii) Exploration and Production companies are needed to first recover the depleted gas from the existing wells for Sui companies and the recovery of depleted gas would not be allowed to sell to the private sector companies.