ISLAMABAD: Khyber-Pakhtunkhwa (KP) has given its nod to the center’s proposal for an upstream regulator that would overlook matters linked to oil and gas producing companies.
A meeting presided by Prime Minister Shahid Khaqan Abbasi and attended by Sindh Chief Minister Murad Ali Shah and KP’s Energy Minister took up the matter of unbundling existing gas entities and upstream regulator proposal.
Technical committee setup regarding upstream regulator held the view that its chairman and members should be appointed on merit, but officials said that provincial representation was key in its policy formulation.
It was added that setting up of an independent regulator was needed for policy implementation to improve local gas and oil production. The technical committee said that the upstream regulator should be based on the model of National Electric Power and Regulatory Authority (NEPRA) and Oil and Gas Regulatory Authority (OGRA).
PM Abbasi said that all provinces will be taken into confidence regarding setting up of an upstream regulator and would personally meet all the chief ministers in this regard.
For Punjab, this is a great time for reforms and Balochistan maintained their stance as a major contributor to the country’s energy supply and vowed to support all calls for its reforms.
