ISLAMABAD (APP) - Federal Minister for Petroleum Ali Pervaiz Malik on Saturday assured that the government would pass on the benefit of declining global fuel prices to consumers.
Addressing a press conference alongside Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, he said petroleum prices had earlier increased in line with international market trends, and any reduction would similarly be passed on to the public.
He said the government was fully aware of public concerns over inflation and remained committed to providing relief to consumers.
The minister said the government’s economic and energy team, led by Prime Minister Shehbaz Sharif, Field Marshal Syed Asim Munir, and Deputy Prime Minister Ishaq Dar, played a central role in ensuring stability and continuity of fuel supplies.
He recalled that when the crisis began, an inter-ministerial committee was formed under the supervision of the finance minister, which worked continuously to monitor and manage the situation. He said the team provided leadership during difficult and unprecedented challenges.
He added that petroleum product prices had recently reached record levels; however, every possible effort had been made to minimise the burden on the public while ensuring an uninterrupted supply.
The minister said targeted subsidy mechanisms were being used to support vulnerable segments, including motorcyclists, farmers, and transporters, through digital wallet systems to help them meet fuel-related expenses.
He said cooperation from friendly countries had played a key role in maintaining energy supplies. He mentioned fuel and crude oil imports facilitated through partners, including Kuwait, Saudi Arabia, the United Arab Emirates, Qatar, and Iran.
He said shipments were being closely monitored to ensure an uninterrupted supply to Pakistan’s refineries, enabling domestic production of petrol and diesel.
He said that crude oil was being sourced from alternative ports, including Yanbu in Saudi Arabia’s Red Sea region, to keep refineries operating at optimal capacity and meet domestic demand.
Referring to the summer season, he said electricity demand was expected to rise significantly, with a large portion of fuel required for the power sector being imported, including regasified liquefied natural gas (RLNG).