Federal Minister for Petroleum, Dr. Musadik Malik, announced on Tuesday that after ten years, the government has offered 40 new offshore and 31 onshore blocks for oil and gas exploration.
Speaking at the 30th Annual Technical Conference and Oil Show, he emphasized that a significant portion of Pakistan’s natural resources remain unused.
He advised international investors to seize this opportunity, assuring them that “Pakistan is open for business, and we will provide all necessary facilitation to investors.”
Dr. Malik outlined the government’s core strategy for the energy sector, which focuses on three key objectives: ensuring access to energy, making it affordable, and maintaining sustainability.
To achieve these goals, he explained that the government is prioritizing three key areas indigenization, electrification, and liberalization.
He also revealed plans to introduce a policy of deregulation and price capping to create a more open and competitive oil sector.
However, he noted that simply bringing in new technology would not be enough to transform the country’s energy landscape. “Continuous innovation is essential for sustainable progress,” he remarked.
The minister stressed the importance of modernizing the oil sector with advanced technology, which lines up with the Prime Minister’s vision of making life easier and better for Pakistanis.
He highlighted that true prosperity wouldn’t come from installing a single new machine; rather, sustainable growth requires a strong commitment to scientific research and development.
Dr. Malik also reiterated the government’s commitment to lowering energy costs for underprivileged communities.
He assured that steps were being taken to achieve this goal while also working to minimize the environmental impact of energy consumption and boost domestic energy production.
He pointed out that without affordability, energy would remain out of reach for the common people. “We are utilizing domestic resources for energy,” he explained, adding that major advancements were being made in electrification.
Encouraging a shift in mindset, he urged that Pakistan needs to familiarize modern methods of working, as the country holds immense potential.
He also highlighted Pakistan’s unused shale and tight gas reserves, revealing that the government is implementing a deregulation policy and intends to open up the oil sector under a price cap mechanism.
The minister further emphasized the importance of inspiring confidence in the younger generation, encouraging them to believe in their ability to achieve great things.
He stressed that national progress depends on self-reliance and unity. “We must focus on progress rather than conflicts,” he concluded, reaffirming the government’s dedication to ensuring energy access for all.
