ISLAMABAD: The Standing Committee on the Petroleum Division convened for its 14th meeting at Parliament House under the chairmanship of Syed Mustafa Mehmood. The committee reviewed the utilization of the Petroleum Training Fund (PTF) and discussed issues related to unaccounted for gas and petroleum pricing mechanisms.

According to National Assembly of Pakistan, members of the committee raised inquiries about the deposits made by Exploration and Production (E&P) companies into the PTF and its utilization by provincial energy departments. The Petroleum Division reported that provinces hold an unutilized balance of PKR 1,956.49 million in the fund. The Sindh Energy Department received PKR 1,032.34 million, Punjab PKR 334.39 million, Khyber Pakhtunkhwa PKR 202.28 million, and Balochistan PKR 530.76 million, with minimal expenditures on local inhabitants.

The committee recommended a focused meeting on the Training Fund and requested comprehensive reports on fund status and utilization. The committee emphasized transparent and effective use of the fund for the benefit of local communities. Additionally, discussions on Unaccounted for Gas (UFG) led to a recommendation for a separate examination meeting.

The committee also addressed petroleum pricing, recommending an investigation into the pricing mechanism and compliance with legal procedures. The committee called for a detailed report on the matter and stressed the importance of OGRA’s decision implementation regarding petroleum prices. The meeting included national assembly members and senior officers from relevant departments and agencies.