Upstream regulatory body on cards
New authority will take provinces on board while regulating petroleum affairs
To ensure independence, the upstream industry regulator’s main source of funding will be levies on the entities it regulates. PHOTO: FILE
ISLAMABAD:
The government has decided to set up Pakistan Petroleum Upstream Regulatory Authority with the objective of taking provinces on board while regulating affairs of the upstream industry.
At present, the director general petroleum concession (DGPC) regulates the upstream petroleum industry.
The draft Pakistan Petroleum Upstream Regulatory Authority Bill 2021 has been submitted to the Cabinet Committee for Disposal of Legislative Cases for approval.