- Kuwait Petroleum evinces keen interest in expanding business activities in Pakistan
ISLAMABAD: Prime Minister Imran Khan said on Wednesday that the government was working on a new petroleum policy, which would offer incentives to foreign exploration & production (E&P) companies and remove impediments in the way of smooth and profitable businesses.
The prime minister stated this while talking to Kuwait Petroleum Chief Executive Officer Shaikh Nawaf Saud Al-Sabah during the latter visit, as part of a delegation, to the PM’s Office.
Power Division Minister Omar Ayub Khan, Punjab Energy Minister Dr M Akhtar Malik, Petroleum Secretary Mian Asad Hayauddin and senior officers were also present on the occasion.
Prime Minister Imran Khan appreciated the company’s contribution towards training the local manpower in the E&P sector.
He welcomed the Kuwaiti CEO and his delegation to Pakistan and assured of the government’s continued support to the company in their smooth business operations.
The prime minister highlighted various steps taken by the incumbent government to facilitate foreign investments and to improve ease of doing business in the country.
He said that exploration remained a neglected area in the past, adding that the government was evolving a stringent mechanism in order to capitalise on the existing potential of the sector.
Shaikh Nawaf Saud Al-Sabah briefed the prime minister about Kuwait Petroleum’s business ventures in Pakistan’s exploration sector. He evinced keen interest in further expanding business activities in the country.
Punjab Energy Minister Dr M Akhtar Malik also briefed the meeting about various initiatives being taken by the Punjab government in the petroleum sector.