Good news for troubled Pakistan, huge oil and gas reserves have been discovered. This energy reserve is 4% of the national product.
New gas and oil reserves have been revealed in Kohat district of Khyber Pakhtunkhwa. The new discovery will produce 16.12 mmcfd of gas and 3240 barrels per day of condensate oil.
According to 24News, the search for oil and gas in the country was a great success. The MOL company discovered oil and gas reserves in Kohat district of Khyber Pakhtunkhwa. The new discovery will produce 16.12 mmcfd of gas and 3240 barrels per day of condensate oil, the company said in a statement.
Experts say that this will be a turning point for Pakistan, this discovery will meet the energy needs of Pakistan, it will also benefit Pakistani companies that are working as partners of the Hungarian company Mol.
On the other hand, the International Monetary Fund has released a report in which the gross domestic product (GDP) of the region, including Pakistan, is expected to be 1.8 percent next year. The Corona virus is causing economic uncertainty, which is expected to account for 1.8 percent of the region’s GDP, including Pakistan. The rate is expected to be up to 9.8%.
The International Monetary Fund said Pakistan has made it through the lockdown, says the monetary policy rate reduction in interest antagonism IMF that Pakistan Coronavirus that has been suspended tax payments to deal with it Receipts of gas and electricity bills have been stopped to control the coronavirus.
Extracted from City42 News
