Published On: Thu, Jan 9th, 2014
Published in Category: Islamabad

Privatization of OGDCL unfavourable of country

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ISLAMABAD: Privatization of oil and Gas development company (OGDCL) is not in the favour of the country in any case because throwing away the top most profit earning organization in public sector is against the national economic interest.

The was stated by elected representatives of OGDCL Officers Association and CBA in a meeting in the wake of meeting of privatization board to set the strategy for privatization of 31 different departments including OGDCL.

The privatization of this strategic and profit earning organization was surprising which would increase economic and financial problems of the country as the average price of gas being supplied by OGDCL is less than three dollars per MMBTU where as the other multinational companies are charging gas prices over 6-8 dollar per MMBTU which is more than double price as compare to OGDCL. In case OGDCL is privatized then the gas prices will go up drastically and would not be affordable for common of Pakistan.

Pakistan is facing very severe energy crises and its economy is badly affected by it, the OGDCL has the capacity to take the country out from this crisis by utilizing its conventional and unconventional energy resources which includes shale gas preliminary reserves of 750 trillion cubic feet as reported by EAI of USA.

OGDCL has been undertaking its exploration activities in the hostile and high risk areas of KPK, Balochistan and Sind Province where no other foreign Exploration and Production Company could dare to enter.. OGDCL could enhance its E&P activities being a national flag carrier company operating in these high risk areas.

OGDCL employees have called a meeting to draw strategy to safe guard the interest of the company and nation which is likely to be addressed by the elected representatives of officers and staff at 4.pm here at OGDCL Head Office, Islamabad.
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