Islamabad: Minister for Petroleum Musadik Malik has announced that the government is implementing a comprehensive strategy aimed at achieving self-reliance and progress through innovation.

According to Radio Pakistan, Musadik Malik highlighted these efforts during a ceremony in Islamabad. He emphasized that innovations within the Oil and Gas Development Company Limited have resulted in a production increase of up to 10,000 barrels. The Minister suggested that if just four companies adopt similar innovations and new technologies, the need for assistance from the IMF could be eliminated, marking a significant shift towards economic independence.

Musadik Malik also mentioned that deregulation is intended to promote the private sector while reducing the size of government departments. In addressing the country’s economic situation, he noted that inflation has decreased due to a significant drop in the interest rate, which has encouraged investors to invest in the country.