More oil Reserves Than Arab Countries – Why Does Pakistan Not Extract Oil From Its lands? Internal Conspiracy or External Interference
Pakistan is currently facing a serious economic crisis because almost half of Pakistan’s total income is spent on the import of petroleum products, due to which Pakistan has to depend on foreign aid to run other affairs of the country – but if Pakistan If you start extracting the oil in the ground, you can extract more oil than many Arab countries and become richer than the United Arab Emirates and many other Gulf countries.
The bill of imports of petroleum products in Pakistan has exceeded 17 billion dollars this year, while the country’s total foreign exchange reserves were 14.94 billion dollars as of June 10, and the situation at this time is that the price of the dollar is above 210 rupees and the country The sale has been stopped due to lack of dollars.
Before talking about the oil reserves in the country, it is important to know one thing that we can print currency notes in our banks and use them in the country, but to order anything from foreign countries, we need dollars, but if our banks If we don’t have enough dollars, we can’t import anything.
Now if we talk about the oil reserves in Pakistan, then Pakistan needs about 600,000 barrels of oil per day, while Pakistan has been extracting only 83,000 barrels of oil from its lands for the last 10 years, while the rest is about 500,000 barrels. Imported from foreign countries.
You will be surprised to know that Pakistan imports most of its oil from UAE. Yes, the same Emirates where dust was flying a few decades ago, people used to make fun of small houses and today, due to the wealth of oil, the United Arab Emirates has become a prestigious country in the world, and Pakistan is meeting its needs by importing oil from the United Arab Emirates. Fulfills
Here, if we tell you how much oil reserves Pakistan has, you will surely be blown away. If Pakistan starts using its own oil reserves, we will beg for loans from IMF, World Bank and other countries. There will be no need to ask and Pakistan can also be economically stable like the Arab countries and go on the path of development.
The reason for our economic crisis is that Pakistan spends a large part of its exports and the foreign exchange sent by Pakistanis living abroad on oil, but if this money is saved, Pakistan will not need loans for other issues. There will be a reduction in taxes in the country and inflation can be controlled, but instead of extracting oil in our country, the government has to waste a large part of the treasury due to importing it.
India is extracting 175,000 barrels of oil per day from the Rajasthan region, which is only 10 kilometers from the Pakistan border, but instead of taking advantage of the oil reserves located near the border, Pakistan is sitting on its hands, not only Rajasthan. , Sukkur, Ghotki, Kasur, Bahawalnagar and Rahimyar Khan districts have evidence of oil and gas and the companies taking license are not focusing on oil and gas exploration and production here which is benefiting India, some reports say that There are also that India gives money to many companies not to extract oil so that they do not work and India continues to benefit from this oil wealth.
Large reserves of oil and gas have also been discovered in Khyber Pakhtunkhwa and experts say that Pakistan’s oil production capacity is 93 thousand barrels per day, of which Khyber Pakhtunkhwa has a capacity of 53 thousand barrels per day. The total reserves are 19 trillion cubic feet and 600 million barrels of oil and not only that, but only a few of the reserves in Khyber Pakhtunkhwa have started working while other sites are yet to be worked on.
OGDCL has recently announced the discovery of new oil and gas deposits in Sindh and Punjab, whereas before that, more than 100 oil and gas deposits have been discovered in Pakistan in the last few years and these are in all four provinces. The reserves are there, but despite this, somewhere India is benefiting and somewhere Iran is using our oil reserves, but instead of benefiting from the vast reserves in its country, Pakistan is burdening the people with external debts by imposing taxes on the people.
According to experts, if the oil and gas reserves in Pakistan are used in good faith, then for the next 50 years, Pakistan will not need to buy oil from any country and millions of employment opportunities can be created in the country. There is a need for economic and political stability and goodwill in the country.