ISLAMABAD: The committee formed by the prime minister to monitor petrol prices held its first emergency meeting in the federal capital and decided to intensify oversight of the energy market.
The meeting was chaired by Finance Minister Muhammad Aurangzeb and attended by senior officials, according to a statement issued by the Ministry of Finance.
The high-level cabinet committee resolved to accelerate monitoring of the energy market and conduct daily reviews of fuel stocks to ensure uninterrupted supply across the country.
Members also discussed matters related to the committee’s mandate and scope of authority.
The statement noted that despite ongoing global tensions, Pakistan currently holds sufficient petroleum reserves and that the country’s energy supply chain remains fully stable.
Participants described the evolving situation in the Strait of Hormuz and Bab al-Mandab as a significant challenge for global energy markets. Concerns were expressed that prolonged regional instability could potentially affect Pakistan’s energy supply if disruptions intensify.
It was decided that the committee will meet on a daily basis to conduct real-time reviews of fuel stocks and prices. The body will also monitor LNG and LPG supplies, incoming shipments, and terminal operations to prevent shortages or price volatility.
Separately, the finance minister directed all relevant institutions to enhance coordination and ensure smooth information sharing. He reassured the public that energy supplies are secure and urged citizens not to panic.
Officials added that comprehensive contingency planning is underway to address any emergency situation and safeguard the country’s fuel and energy needs amid uncertain global conditions.