Petroleum Minister Ali Pervaiz Malik has said that three petrol cargoes were expected to reach Pakistan by Monday, as Middle East tensions threaten fuel supplies across the country.
Sindh Chief Minister (CM) Murad Ali Shah met Finance Minister Muhammad Aurangzeb and Petroleum Minister Malik to review the evolving regional situation and its potential impact on Pakistan’s energy sector and economy, according to a statement issued by the CM’s office.
The meeting received a detailed briefing on rising global oil prices and the country’s current fuel reserves. Federal officials warned that if the Middle East conflict escalates further, crude oil prices could reach $120 per barrel, putting additional pressure on Pakistan’s economy.
Participants also discussed emergency energy conservation measures aimed at managing fuel consumption and ensuring continuity of economic activity, the statement said, adding that officials noted concerns over potential hoarding at petrol pumps.
It further said the delegation was informed that Qatar had issued a force majeure declaration that could affect LNG supplies, further raising energy concerns. To maintain smooth fuel availability, the federal government is working with provinces to develop a joint dashboard for monitoring fuel stocks and supply, it added.
Petroleum minister said fuel conservation measures are essential to ensure that existing reserves last longer and remain available for essential sectors.
FinMin Aurangzeb said the government is closely monitoring global energy markets and preparing contingency plans to mitigate the financial impact of rising oil prices. “If crude oil prices surge significantly, Pakistan’s monthly oil import bill could increase by up to $600 million, putting pressure on the country’s external account,” he added.
CM Murad emphasised responsible energy use and public cooperation. “The government’s priority is to keep the wheels of the national economy moving while managing the energy situation prudently,” he said, adding that proposals discussed at the meeting would be presented to the cabinet for further deliberation.
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Officials noted intensified diplomatic engagement with Saudi Arabia, Oman, and the United Arab Emirates to secure alternative fuel supplies via routes outside the Strait of Hormuz, the statement said.
The meeting also decided to strengthen coordination between federal and provincial authorities to prevent hoarding and ensure smooth fuel distribution across the country, it added.
According to the officials, the government plans to seek relief in the petroleum levy during upcoming discussions with the International Monetary Fund to ease the financial burden on consumers.
Participants agreed to maintain close coordination between federal and provincial governments to effectively manage the evolving energy situation and safeguard economic stability, the statement concluded.
