Four Petroleum Sector Projects Get Rs 338 Mln Against Rs 463 Mln Allocation

Four petroleum sector projects get Rs 338 mln against Rs 463 mln allocation

The government has released around Rs 338.215 million funds for four projects of the Petroleum Division under the Public Sector Development Programme (PSDP 2018-19) during the last fiscal year against the total allocation of Rs 463.175 million

ISLAMABAD, (UrduPoint / Pakistan Point News - 12th Jul, 2019 ) :The government has released around Rs 338.215 million funds for four projects of the Petroleum Division under the Public Sector Development Programme (PSDP 2018-19) during the last fiscal year against the total allocation of Rs 463.175 million.

According to the official data issued by the Ministry of Planning, an amount of Rs 291.575 million has been released to acquire drilling rigs and accessories for Geological Survey of Pakistan (GSP), for which Rs 416.535 million had been earmarked in the PSDP.

While, Rs 13.736 million has been released for appraisal of newly discovered coal resources of Badin coal field and its adjoining areas of southern Sindh, Rs 14.609 million for exploration and evaluation of metallic minerals in Uthal and Bela areas of district Lasbella, Balochistan and Rs 18.295 million for assessment of coal potential in Nosham and Bahlol areas of Balochistan. These three projects got got 100 percent funds as per the allocation.

During the current fiscal year, the government would spend Rs 433.852 million for advancement of the four projects. Out of which, Rs 416.535 million would be utilized to acquire drilling rigs, Rs 3.655 million for appraisal of coal reserves in Badin, Rs 10.553 million to explore and evaluate coal in Nosham and Bahlol areas of Balochistan, and Rs 3.109 million for exploration and evaluation of metallic minerals in Uthal and Bela areas of district Lasbela.

In addition, an amount of Rs 147.960 million has been kept for two new projects, out of which Rs 70 million would be utilized to expand and up-grade Pakistan Petroleum Corehouse (PETCORE) for its sustainable operations to facilitate oil and gas exploration research in the country, and Rs 77.960 million for up-gradation of Hydrocarbon Development Institute of Pakistan (HDIP)'s POL testing facilities at Islamabad, Lahore, Multan, Peshawar, Quetta and ISO Certification of Petroleum Testing Laboratory at Islamabad.

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