AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: Minister for Petroleum Musadik Malik has announced that the government is implementing a comprehensive strategy to achieve self-reliance and progress through innovation.
According to Radio Pakistan, while speaking at a ceremony in Islamabad, Malik highlighted the significant advancements in the Oil and Gas Development Company Limited, which has successfully increased its production to 10,000 barrels through innovative practices. He emphasized that the implementation of similar innovations and new technology by just four companies could eliminate the need for International Monetary Fund assistance, marking what he described as a silent revolution.
The Minister also discussed the government’s approach to deregulation, which involves promoting the private sector while downsizing government departments. This strategy is aimed at boosting efficiency and encouraging private investment.
Addressing the economic conditions, Malik noted a reduction in inflation attributed to a significant decline in interest rates. This economic shift, he suggested, has been instrumental in attracting investors to the country, further supporting the government’s vision of a self-reliant economy.