Islamabad: The government has announced its overhaul of the energy sector in order to encourage investment, according to a news report. These changes involve easing the laws, approvals, and regulations related to the sector, and introducing incentives for investors. This will improve Pakistan’s ranking in the Ease of Doing Business index, and encourage investor confidence.
The Minister for Energy Omar Ayub, and Special Assistant to the Prime Minister on Petroleum Nadeem Babar, announced these changes at a news conference on Thursday. Ayub also revealed that five international companies (Shell, ExxonMobil, Trafigura, Mitsubishi, and a French firm) have been chosen to set up a processing terminal for Liquefied Natural Gas (LNG). This terminal will function without any government interference or permission requirements, and only requires site allocation from the port authorities.
