Sale of 35pc new gas reserves okayed after 11 months

ISLAMABAD: Over one-third of the newly discovered gas reserves would be sold to private companies, a high-level committee decided on Monday.

The decision by the committee, led by Deputy Prime Minister Ishaq Dar, came after almost a year-long resistance from government-owned gas companies over this issue.

The committee decided to sell 35pc of new gas finds to third-party private entities through a bidding process to ease liquidity challenges of the exploration and production (E&P)...