The World Bank has commended the Petroleum Division for successfully resolving the protracted issue of surplus Liquefied Natural Gas (LNG), a complex challenge that has long plagued Pakistan’s energy sector. The praise came during a highlevel meeting on Thursday between Federal Minister for Petroleum, Mr. Ali Pervaiz Malik, and the World Bank’s Country Director for Pakistan, Ms. Bolormaa Amgaabazar, convened to discuss crucial energy sector reforms.
During the discussion, Ms. Amgaabazar praised the Petroleum Division’s success in tackling the persistent LNG surplus. She acknowledged the intricate nature of the problem and commended the Minister for his personal supervision in ensuring the sustainability of the gas sector.
Reaffirming the global financial institution’s backing, Ms. Amgaabazar expressed a readiness to collaborate on reforms in the Liquefied Petroleum Gas (LPG) sector and on initiatives to build capacity for the Oil and Gas Regulatory Authority (OGRA). She noted that the World Bank is already assisting the Ministry in creating a comprehensive plan for gas sector reforms, which includes enhancing efficiency and exploring the potential restructuring of Sui gas companies.
Federal Minister Ali Pervaiz Malik expressed his gratitude for the World Bank’s recognition of the administration’s efforts, emphasizing that international perspectives are vital for crafting effective and enduring policy changes. He reiterated the government’s dedication to securing the longterm viability of the gas sector through deepseated structural and institutional reforms.
The Minister also praised the World Bank’s analytical contributions, describing them as strategic and forwardthinking. He highlighted that improving the nation’s Air Quality Index (AQI) remains a significant government priority, noting that initiatives are in progress to elevate fuel standards, a move that will necessitate the eventual modernization of Pakistan’s refineries.
Both parties concluded the meeting by reaffirming their mutual resolve to continue their partnership in support of Pakistan’s energy sector transformation and its broader sustainable development objectives.