Qadirpur Gas Field on Sale
By Sameer Shaharyar • Nov 14th, 2008 • Category: Politics • 3 CommentsI don’t know who does this, but there is someone who comes up bright ideas every now and then in every government. Like he came up with the notion of privatizing the Pakistan Steel Mills, and now we are hearing about the selling out of Qadirpur gas field.
Pakistan has got very few, even rare organizations which are making any profits. There are just three or four such organizations which hold any promise of carry on with the earning streak in the near future, and Qadirpur gas field is one of them, and now some egghead has decided to privatize this national asset. The gas fields around the world are in great demands and the European and American bidders are always on a lookout for them. Americans bidders even went to the extent of pushing their government to a war to capture the oil fields in Iraq.
The Qadirpur Gas Field located in Sindh province of Pakistan is considered as a goldmine of Pakistan’s natural reserves. It’s the most promising resource for the country. Merrill Lynch is the financial advisor for its privatisation. The field was developed in three phases, increasing its capacity from the initial 235 mmscfd to 500 mmscfd. The average daily sales during the third quarter of 2006-07 from the field were 495 mmscfd of purified gas, 35 mmscfd raw gas and 103 barrels of condensate. It still holds a huge potential.
The economic idiots in the government want to mobilize the money in the country and they want to improve the budgetary scenario. But the cost at which they are trying to do it is very dangerous. It’s like selling the utensils of home to buy the food. Selling national resources to get foreign investment is ridiculous, and the earning resources like Qadirpur must not be thrown away like that, not even for $2billion.
Trackback URL
|
|
|
Click For More Articles By Sameer Shaharyar
All posts by Sameer Shaharyar
You can follow any responses to this entry through the RSS 2.0 feed.
[...] I don’t know who does this, but there is someone who comes up bright ideas every now and then… Read More at http://www.pakspectator.com. Original post [...]
Instead of improvement in industrial sector, all ruling groups are interested in selling the govt controlled areas.There is no interest whether the target industry is worth or not but all have same logics on selling national assets.PTCL one of profitable institutions were sold out to arab group,same was happening to steel mill,If our ministers were unable to improve the performance of dying unit then why they take such ministries in which they know that they can not manage it.If the economical conditions of country is weak then why those ministers( millionaire or billionaire people of poor Pakistan) take huge monetary benefits from their department and never miss any opportunity to misuse govt facilities for their personal uses.
I think government should learn now from recent Int’l Financial Crisis and credit crunch. USA and Europe is not buying private institutions to keep balance between private and public entities so save their citizen interests and stopping private employers to exploit market.
Here Pakistan is selling only those entities, who have good IRR and bright future prospects. Why government can’t even think to sell some part of Railway and PIA? Just because they won’t get black money as bribery for selling company to them…
If Zardari and his team is so sincere to help country then why they not become first drop of the rain by bringing all black money back in country. They are just dramas and visits other countries as beggars instead of controlling their own expenses.
When world will give Pakistan a medal of “International Beggar”.