ISLMABAD: Pakistan’s Energy Minister Ali Pervaiz Malik has stated that three shipments of petrol are scheduled to reach the country by Monday, as escalating tensions in the Middle East fuel worries about possible interruptions in fuel supply.
The minister made the statement during a meeting to review the evolving regional situation and its possible impact on Pakistan’s energy supplies and economy.
The meeting was attended by Sindh Chief Minister Murad Ali Shah, Finance Minister Muhammad Aurangzeb, Petroleum Minister Ali Pervaiz Malik, Sindh Home Minister Ziaul Hassan Lanjar, Chief Secretary Asif Hyder Shah, Secretary Energy Shuhab Ansari and other officials.
According to a statement issued by the Chief Minister’s office, Sindh Chief Minister Murad Ali Shah met with Finance Minister Muhammad Aurangzeb and Energy Minister Malik to review the evolving regional situation and assess its possible impact on Pakistan’s energy sector and overall economy.
The meeting discussed emergency energy conservation steps aimed at managing fuel consumption and ensuring the continuity of economic activity. Officials expressed concern over the possibility of fuel hoarding at petrol pumps, according to the statement.
“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,” it said.
The delegation was further informed that Qatar had issued a force majeure declaration that could potentially affect LNG supplies, adding to existing energy concerns.
To ensure the smooth availability of fuel, the federal government is working with provincial authorities to develop a joint strategy for monitoring fuel stocks and supply.
Minister Ali Pervaiz Malik stressed that fuel conservation measures are essential to ensure existing reserves last longer and remain available for critical sectors.
During the meeting, Finance Minister Muhammad 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.
The statement also noted that officials highlighted intensified diplomatic engagement with Saudi Arabia, Oman, and the United Arab Emirates to secure alternative fuel supplies through routes outside the Strait of Hormuz.
The meeting further decided to strengthen coordination between federal and provincial authorities to prevent hoarding and ensure the smooth distribution of fuel across the country.
According to officials present at the meeting, the government is also planning to seek relief in the petroleum levy during upcoming discussions with the International Monetary Fund (IMF) to ease the financial burden on consumers.
Iran has also closed the Strait of Hormuz following airstrikes by the United States and Israel last week, halting the movement of oil supplies to several countries.
As a result, crude oil prices on Friday posted their strongest weekly gain since the extreme volatility seen during the COVID-19 pandemic in spring 2020, as shipping and energy exports through the vital waterway were disrupted.
Amid the worsening supply situation, the government sharply increased petrol and diesel prices by Rs55 per litre, or about 20%.
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