Finance Minister Advocates Reforms for Sustainable Gas Sector in Pakistan

ISLAMABAD: Finance Minister Muhammad Aurangzeb emphasized the need for comprehensive reforms in Pakistan’s gas sector during a high-level meeting on Monday. The meeting aimed to address critical issues such as circular debt, cross-subsidies, unaccounted-for-gas (UFG) losses, and supply-demand imbalances.

Chairing the meeting, Aurangzeb highlighted the importance of learning from global best practices to create a viable and competitive gas market. He was joined by key officials, including the federal minister for petroleum and representatives from the World Bank, as they reviewed a proposed restructuring and deregulation roadmap focused on financial sustainability and operational efficiency.

The proposed reforms are expected to enhance consumer welfare and encourage greater private-sector participation, which could lead to a more resilient energy sector. By aligning stakeholders around a practical reform architecture, the government aims to stabilize the gas market and mitigate ongoing challenges.

Looking ahead, the government plans to convene further discussions with stakeholders to refine the reform framework and implement actionable strategies. This initiative is crucial for ensuring energy security and fostering economic growth in Pakistan.