Islamabad October 28 2022: The Economic Coordination Committee (ECC) on Thursday considered and approved a summary for extension in Development and Production Lease (D&PL) for (15) fifteen years to PPL.
The ECC considered a summary of Petroleum Division and allowed to grant a Development and Production Lease (D&PL) for (15) fifteen years w.e.f 15-01-2022 over Kandhkot Mining Lease area on existing Gas Price and subject to the condition that M/s PPL will pay all the financial obligations in accordance with Petroleum Policy 2012.
Kandhkot discovery was made by PPL in 1959. The Government granted the mining lease over Kandhkot Gas field for a period of 30 years in 1962 which was renewed for further thirty years in 1992.
This was approved in ECC of Cabinet meeting Chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, said a press release issued here.
Federal Minister for National Food Security and Research Chaudhary Tariq Bashir Cheema, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Shahid Khaqan Abbasi MNA/ex-PM, Minister of State for Petroleum Musadik Masood Malik, SAPM on Finance Tariq Bajwa, Coordinator to PM on Commerce and Industry Rana Ihsan Afzal, Federal Secretaries and senior officers attended the meeting.
