Substantial progess has been made inPakistan in the restructuring and reform of the oil and gassectors, deregulation of prices, and privatization ofselected assets. The reforms have enhanced transparency,making decisionmakers aware of the various aspects of thebusiness. This review documents the accomplishments to date,and attempts to identify measures that merit priorityattention with respect to natural gas, petroleum downstream,and macroeconomic management. The report concludes thatPakistan would benefit greatly from pursuing the reformprogram it initiated in 2000. The remaining measures willenable the government to unlock the full indigenous resourcepotential to accelerate growth and improve the welfare ofthe population. It would release scarce public resourcesfrom the hydrocarbon sector, which could then be mobilizedfor other priority needs like health and education. Thereform process would be greatly facilitated throughconsultations with stakeholders, and using internationalexperience in oil and gas sector reform. A competitive,largely private owned, and efficiently run oil and gassector will deliver quality energy supplies to the consumersat realistic prices in a sustainable environment.
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