Largest oil refinery opened in Hub

The government will make Balochistan a completely peaceful province


Mohammad Zafar/APP June 13, 2015
PHOTO: APP

QUETTA: Prime Minister Nawaz Sharif on Friday inaugurated the country’s largest oil refinery complex in the industrial city of Hub amidst a pledge that his government would chase down militants until the scourge of terrorism is fully eliminated.

Citing headway in the struggle to keep law and order in check in Balochistan, Prime Minister Nawaz vowed also to make the province a citadel of peace. “The government will make Balochistan a completely peaceful province,” the PM said.

The PM said his government is committed to sustained availability of fuel and energy supplies in the country to ensure accelerated growth in all areas.

“The new refinery, built by the Byco Group, is an appreciable addition to the oil and gas sector, and will go a long way in achieving sustainable productivity and increased profitability,” he said.

As the country’s largest oil refinery complex, the Byco plant will refine 120,000 barrels of crude oil per day, fulfilling around 39 per cent of country’s energy needs and cutting down reliance on fuel imports.

Currently, Pakistan requires 22 million tons of oil, but the country is still short of capacity to refine crude oil. “It will take time to achieve complete self-sufficiency,” he added.

Pakistan, according to PM Nawaz, is gaining investors’ confidence and the investment by Byco was proof of that.

The refinery has brought in an investment of $750 million and produces about 1.6 million tons of fuel oil, 2.4 million tons of diesel, 1.1 million tons of LPG annually.

‘No mercy for terrorists’

“Terrorists will be brought to book soon,” he said, adding that “terrorists do not deserve any kindness.” He said the terrorists now understood that they had no more room now to manoeuvre and were being cornered.

He said operation  Zarb-e-Azb was going on with success and the hideouts and networks of the terrorists were no more operational in North Waziristan Agency, which, he said, is now completely peaceful with its internally displaced persons (IDPs) returning to their native areas. He said the government would facilitate the IDPs in their repatriation.

The PM said terrorists killed as many as 16 workers constructing a road leading from Gwadar to Quetta. “However, the determination of the government is not shattered by the designs of the terrorists and we would continue to pursue the development projects,” he said.

Improved connectivity

He said he desired a better connectivity of Balochistan with the rest of the world, especially the Central Asian states which would bring economic prosperity to Balochistan, as well as Pakistan.

“Work is under way on the Quetta-Gwadar Highway which will be completed in due course of time and will yield benefits to the entire region,” he added. According to him, Gwadar will be declared a free port and will be connected to Central Asia.

Feasibility reports for three routes are under consideration. “One of them is from Peshawar to Kabul, the second from Gwadar to Quetta, Chaman and onwards to Afghanistan, and the third from Wakhan to the CARs,” he said.

PM Nawaz said these links would bring about a sea change in the national economy and also boost the economy of Balochistan, generate numerous employment opportunities and provide inter-connectivity with all regions of the country.

PM Nawaz asked Finance Minister Ishaq Dar to consider giving more concessions to new industries in taxation to encourage more foreign investment.

Balochistan Chief Minister Dr Abdul Malik Baloch said under the leadership of PM Nawaz, the increasing investment in Balochistan would bring peace.

 

Published in The Express Tribune, June 13th, 2015.

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