Since independence Pakistan has remained an energy deficient country. After the nationalization of industries by Prime Minister Zulfikar Ali Bhutto in early seventies, the entire energy sector came in the control of the state. Despite the successive governments following deregulation, liberalization and privatization policy, energy business is mostly controlled by the state-owned enterprises.

A significantly large part of energy companies be in exploration & production, oil and gas distribution and even refining remains in the public sector. The leading names include Oil & Gas Development Company (OGDC), Pakistan Petroleum (PPL), Pakistan State Oil Company (PSO), Sui twins, and Pak Arab Refinery and pipeline management.

The depleting production of crude and gas in the country is the most glaring example of absurd policies being followed by the state. Every year the state-owned companies pay lofty dividends, despite lavish spending. However, if one looks at their drilling record/ production numbers are disappointing. One completely fails to understand that Pakistan has an enviable success record but the number of wells........

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