Govt Allocates Rs 1500m For 10 Petroleum Sector Projects

ISLAMABAD, Jun 9 (UrduPoint / Pakistan Point News - 9th Jun, 2023 ) :The government on Friday allocated funds amounting to Rs 1500 million in the Public Sector Development Programme (PSDP) for the year 2023-24 to advance five ongoing and four new petroleum sector projects.

According to the budgetary documents, the incumbent government earmarked another Rs 123 million for establishment of National Mineral Data Centre (NMDC), Rs 424.265 million for expansion and up-gradation of Pakistan Petroleum Corehouse (PETCORE) for its sustainable operations to facilitate oil and gas exploration research in Pakistan (HDIP), Rs 74.595 million for Geological Mapping of 50 Toposheets, out of 354 unmapped Toposheets of Outcrop Area of Balochistan Province, Rs five million for Legal Consultancy Services for drafting of Model Mineral Agreement and updating of Regulatory Framework (Federal and Provincial Minerals/Coal Departments) prepared by Mineral Wina and Rs 123.

140 million for Pakistan National Research Programme on Geological Hazards (Earthquakes and Landslides) - Data Acquisition along Active Faults and Identification of Potential Landslides Hotspot Zones and Rs 100 million for Strengthening Up-gradation and ISO Certification of Karachi Laborites Complex (KLC).

The federal government has allocated Rs 650 millions to start four new PSDP projects.

Out of Rs 650 million, Rs 300 had been spared for the project Accelerated Geological Mapping Using Modern Satellite Imagining-Based Technology for Unmapped areas in Pakistan.

Similarly, Rs 150 million allocated for the development of Strategic Underground Gas Storage (SUGS) at Badin and Rs 100 million allocated each for Instrumental Up-gradation of Geo-science Advance Research Laborites (GARL), GSP and Islamabad to be used in Economic Mineral Exploration and Supply of Gas to Localities/ Villages in 5Km Radius of Gas producing Fields- SNGPL