Federal Minister for Power & Petroleum Omar Ayub Khan has said that promoting Research and Development (R&D) in the hydrocarbon sector in collaboration with academia holds key importance for achieving self-sufficiency in energy sector of the country.

Addressing the launching ceremony of Pakistan Energy Outlook-2019 here on Monday, Omar Ayub Khan said that he was very happy to see the living example of collaboration with universities in oil and gas sector, but let’s take it a step further as well.

Energy experts from across the country and abroad attended the ceremony organized by Petroleum Institute of Pakistan (PIP).

He termed the collaboration a ‘venture capital,’ citing examples of several countries where different companies in diverse fields adopted modern technologies, involved students and generated billions of dollars revenue, producing integrated technologies.

The Minister for Power and Petroleum said that the new renewable energy policy had been drafted and presented to the quarters concerned for approval, while the new energy and exploration and production policies would be coming up in another month-and-a-half.