Over Rs298m released for petroleum sector projects under PSDP

ISLAMABAD: The government released funds amounting to Rs298.183 million during first 10 months of the current fiscal year to execute six petroleum projects under the Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs581.812 million.

According to the official data, an amount of Rs10.553 million (100pc utilised) was provided to explore and evaluate coal in Nosham and Bahlol areas of Balochistan, while Rs54 million were released against the allocation of Rs70 million for the expansion and up-gradation of Pakistan Petroleum Corehouse (PETCORE) to ensure its sustainable operations and facilitate oil and gas exploration research in the country.

Similarly, a sum of Rs60.252 million was provided under a project to upgrade Hydrocarbon Development Institute of Pakistan (HDIP)’s POL testing facilities at Islamabad, Lahore, Multan, Peshawar and Quetta, besides ISO Certification of Petroleum Testing Laboratory at Islamabad.

This year, the government would spend Rs77.960 million for the uplift of HDIP labs.

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An amount of Rs166.614 million was issued to acquire new drilling rigs and equipment, while Rs3.655 were released for appraisal of newly discovered coal resources in Badin and its adjoining areas in southern Sindh.

Also, an amount of Rs3.109 million was disbursed for exploration and evaluation of metallic minerals in Uthal and Bela areas of district Lasbela, Balochistan.

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