The federal government has stepped up oversight of the energy market by ordering daily reviews of petroleum stocks and global price movements, saying supplies remain stable despite escalating tensions around key Gulf shipping routes.
A meeting of the committee formed by the Prime Minister to monitor petrol prices in view of the emerging regional situation was held at the Finance Division under the chairmanship of Finance Minister Muhammad Aurangzeb.
The committee undertook a comprehensive stocktaking exercise, reviewing forward and futures price trends of petroleum products, assessing the resilience of regional and international supply chains, and examining potential foreign exchange implications of oil price volatility.
Participants were briefed that national stocks of petroleum products are currently at comfortable levels, with no immediate supply stress. The finance minister emphasized that maintaining market confidence and ensuring uninterrupted domestic availability of fuel remain top priorities.
The meeting noted that any closure of the Strait of Hormuz or escalating tensions around the Bab el-Mandeb Strait could pose serious challenges to global energy security. If the situation persists, it may have implications for Pakistan’s energy supply chain, given its reliance on imported crude and petroleum products.
A detailed assessment of global oil market conditions was presented, covering movements in international benchmarks, freight and insurance costs, shipping route dynamics, and alternate sourcing options. Various supply and pricing scenarios were evaluated to ensure preparedness under different contingencies, including the fiscal impact of a prolonged conflict.
The committee decided it would convene daily to ensure continuous oversight, with structured data consolidation followed by formal review. This mechanism will enable real-time monitoring of international price movements, domestic stock levels, foreign exchange exposure, and supply chain developments.
The finance minister directed all relevant entities to intensify coordination, validate physical stock positions, closely track shipments and storage, and remain fully prepared to respond to emerging developments. He stressed that the committee would function as a strategic governance forum focused on structured scenario planning and timely decision-making.
He also assured that any pricing implications arising from international market movements would be handled through established mechanisms in a predictable and orderly manner to avoid abrupt adjustments or market distortions.
The meeting reviewed LNG and LPG supply positions, shipment schedules, terminal operations, and line-pack considerations. Ministries were tasked with refining comparative scenario assessments, including economic and fiscal trade-offs linked to alternative fuel utilization and demand management strategies.
Among those attending the meeting were Petroleum Minister Ali Pervaiz Malik, Power Minister Sardar Awais Ahmad Leghari, and Minister of State for Finance Bilal Azhar Kayani, along with senior officials from relevant ministries and regulatory bodies.
Concluding the session, the finance minister reaffirmed that the government is monitoring developments at the highest level and that comprehensive contingency planning is underway to safeguard national interests, assuring the public there is no cause for concern as energy supplies remain stable and governance mechanisms fully operational.
