PDP chief urges shift to domestic oil, gas for energy security

Pasban Democratic Party (PDP) Chairman Altaf Shakoor on Sunday urged the government to focus on developing domestic oil and gas resources to ensure long-term energy security in the wake of the ongoing crisis in the Middle East.

In a statement, he said escalating conflict in the region and the possibility of supply disruptions had exposed Pakistan's vulnerability to global energy shocks, adding that fluctuations in international oil prices could have serious economic consequences for the country.

He said Pakistan imported the majority of its petroleum requirements and its annual oil import bill ran into billions of dollars. Any surge in global oil prices, he noted, quickly translated into higher fuel costs, increased electricity tariffs and additional pressure on the country's foreign exchange reserves.

Shakoor said the prevailing geopolitical uncertainty highlighted the need for Pakistan to reduce its dependence on imported energy and instead utilise its own natural resources.

He pointed out that despite heavy reliance on imports, Pakistan was not an energy-poor country. Geological surveys indicated the presence of significant untapped reserves of oil and natural gas in sedimentary basins across Sindh, Balochistan and parts of Khyber Pakhtunkhwa, while offshore areas in the Arabian Sea were also believed to hold considerable hydrocarbon potential.

However, he said exploration activity in Pakistan had remained limited compared to countries with similar geological prospects. Domestic oil and gas production had either stagnated or declined in recent years, widening the gap between demand and local supply and increasing reliance on imports.

The PDP chief attributed the situation to regulatory uncertainty, bureaucratic delays and inconsistent policy frameworks, which he said had discouraged both local and international investors. He added that exploration companies required long-term stability and clear incentives before committing substantial capital to drilling and development projects.