Petroleum Minister Dr Musadik Malik has suggested a future shift for domestic consumers from natural gas to liquefied petroleum gas (LPG), as well as rising security costs causing company exits.
During a meeting of the National Assembly's Standing Committee on Petroleum, Musadik Malik informed the committee about the increased security costs faced by companies due to the country's security issues. He cited that these escalating costs are causing several large companies to exit Pakistan.
The minister highlighted that only 27% of the population currently uses natural gas, while a mere 3% rely on LPG. He pointed out the economic disparity, noting that gas from local reserves costs $10 per unit, whereas imported Liquefied Natural Gas (LNG) costs between $8 to $9 per unit.
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Committee member Asad Alam Niazi emphasized the growing reliance on LPG in neighbouring countries and suggested that Pakistan might need to follow suit in the future. "Bangladesh, India, and many other countries depend on LPG. In future, this will be an option for us too. If the ministry is working on this transition, it's a positive step," he remarked.
The meeting also revealed concerns about the use of hazardous metals to meet Euro 5 fuel standards. Committee Chairman Mustafa Mahmood underscored the health risks associated with these metals and expressed the committee's intent to eliminate them from fuel supplies.
The committee members stressed the necessity for upgrading refineries in the country and called for the deregulation of fuel prices to promote a more competitive market environment.
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