Govt reviews energy situation as three petrol cargoes expected to arrive tomorrow

KARACHI (Dunya News) - A high-level meeting was held in Karachi to review the country’s energy supply situation and the impact of rising global oil prices amid escalating tensions in the Middle East.

The meeting was attended by CM Murad Ali Shah, Federal Finance Minister Muhammad Aurangzeb and Petroleum Minister Ali Pervaiz Malik.

The participants reviewed the evolving regional situation and its possible implications for Pakistan’s energy supplies and economy.

Officials warned that if tensions in the Middle East escalate further, global crude oil prices could surge to around $120 per barrel, placing additional pressure on Pakistan’s economy.

Addressing the meeting, Petroleum Minister Ali Pervaiz Malik said that three petrol cargoes are expected to arrive in Pakistan by Monday, helping maintain fuel availability in the country.

Officials briefed the meeting on the rise in global oil prices following the conflict involving the United States, Israel and Iran, which has increased pressure on domestic energy costs.

The federal government recently raised petrol and diesel prices by Rs55 per litre in response to the surge in international prices.

PM Shehbaz urges austerity measures amid global fuel crisis

The meeting was informed that emergency fuel conservation measures are being considered to ensure that existing petroleum reserves last longer and remain available for essential sectors.

Discussions also focused on maintaining uninterrupted energy supplies to sustain economic activity.

Finance Minister Muhammad Aurangzeb said the federal government is closely monitoring global energy markets and preparing contingency plans to manage the financial impact of rising oil prices.

He noted that Pakistan’s monthly oil import bill could increase by about $600 million if prices continue to climb.

Officials said Pakistan has intensified diplomatic engagement with Saudi Arabia, Oman and the United Arab Emirates to secure alternative fuel supplies through routes outside the Strait of Hormuz.

Chief Minister Murad Ali Shah emphasized that keeping the wheels of the national economy moving remains the government’s top priority.

The meeting also decided to establish a joint monitoring dashboard with provinces to track fuel reserves and prevent hoarding at petrol pumps.

Participants agreed to strengthen coordination between federal and provincial authorities to ensure smooth fuel distribution and effectively manage the evolving energy situation across the country.