WINDFALL EFFECTS OF OIL AND GAS DISCOVERY ON ECONOMIC CONDITIONS IN DISTRICT KARAK, PAKISTAN

Abstract

The present study was conducted to find out the windfall effects of oil and gas discovery with reference to social development in district Karak, Khyber Pakhtunkhwa, Pakistan. The primary data for the study was collected from district Karak. The simple random sampling technique was adopted for selection of six village councils incuding Amankot, Sam Banda, Hayatabad, Bargyi, Jatta Ismael Khel and Sanda Khurram from three union councils including Gorgori, Terri, and Jatta Ismail Khel of Tehsil Banda Daud Shah District Karak, Khyber Pakhtunkhwa, Pakistan. The data was collected through an interview schedule from 376 sampled respondents. The inferences were drawn through univariate and bivariate modes of analysis. A significant association was found between social developments and exploration of gas and oil has led to the emergence of new era of development (p= .000), free gas provided to local consumers (p= .000), revenue collected from gas is being spent on the welfare of locals (p= .000), at the same time People were able to meet their daily requirements due to availability of jobs from gas exploration. There is a need that the government may fix a quota regarding jobs for local inhabitants of concerned areas. This may further enhance a spell of prosperity and happiness in the area.