Islamabad: The World Bank has commended Pakistan’s Ministry of Petroleum for its successful resolution of the long-standing liquefied natural gas (LNG) surplus issue, following a meeting between Federal Minister for Petroleum Ali Pervaiz Malik and World Bank Country Director for Pakistan Bolormaa Amgaabazar.
In the meeting, Ms. Amgaabazar praised the Petroleum Division’s efforts in addressing the LNG challenge, acknowledging that it required significant dedication and strategic planning. She emphasized the World Bank’s ongoing support for reforms within Pakistan’s gas sector and expressed readiness to collaborate on initiatives involving the liquefied petroleum gas (LPG) sector and the capacity building of the Oil and Gas Regulatory Authority (OGRA).
The World Bank is already engaged with the Ministry of Petroleum in formulating a comprehensive roadmap for gas sector reforms. This plan includes efforts to enhance the efficiency and performance of the Sui gas companies through unbundling measures.
Minister Malik expressed gratitude to the World Bank for recognizing the government’s accomplishments in the LNG sector. He highlighted the importance of international partnerships in developing sustainable policy reforms and reiterated the government’s commitment to long-term sustainability through structural and institutional changes in the gas sector.
The Minister also praised the World Bank’s analytical contributions, noting their strategic and forward-thinking nature. He underscored the priority of improving Pakistan’s Air Quality Index (AQI) and mentioned ongoing efforts to upgrade fuel standards, which would necessitate enhancements in the country’s refineries.
Both parties affirmed their dedication to continued cooperation, aiming to support Pakistan’s energy sector reforms and sustainable development objectives.