ISLAMABAD, MAR 4 /DNA/ – The Committee to Monitor Petrol Prices in the Wake of the Emerging Situation in the Region, constituted by the Prime Minister, met again today under the chairmanship of the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division.
The Committee continued its deliberations on the evolving regional and global energy situation and undertook a detailed review of petroleum stock levels and supply chains across the country. Participants were briefed on country stock levels of crude oil and refined petroleum products, including petrol, diesel, aviation fuels and LPG, along with their respective days of cover and daily consumption patterns.
The meeting was also briefed on global oil market developments, including movements in international benchmark prices, freight and insurance costs, shipping route dynamics, and evolving conditions in key maritime corridors. The Committee noted that the international energy environment remains fluid, particularly given the uncertainty surrounding the Strait of Hormuz and its implications for global energy trade.
Participants reviewed developments in LNG and LPG markets as well. The Committee was informed that while LNG imports under long-term arrangements remain an important component of Pakistan’s energy supply mix, disruptions in regional shipping routes could affect global LNG logistics. LPG inflows through cross-border channels are also being closely monitored to ensure uninterrupted domestic availability.
The Committee discussed a range of contingency measures to strengthen supply security, including engagement with international partners and exploration of alternative sourcing routes. In this regard, members were informed of ongoing diplomatic and commercial engagement with friendly countries and suppliers in the region to secure additional crude and petroleum supplies where necessary.
The Committee also noted efforts underway to diversify procurement options through regional energy hubs, including potential arrangements through ports in the Red Sea and the Gulf region, in order to maintain the continuity of refinery operations and ensure supply resilience.
Members further reviewed energy conservation measures as part of broader contingency planning aimed at managing demand efficiently while maintaining orderly market conditions. The Committee emphasized that while supply conditions remain stable, prudent energy use and conservation at all levels would help strengthen national preparedness should international uncertainties persist.
The Finance Minister emphasized that ensuring uninterrupted availability of petroleum products remains the Government’s foremost priority and will continue to guide all policy decisions. He reiterated that the Committee is monitoring developments on a daily basis and is prepared to take timely and coordinated measures to safeguard national energy security and maintain stability in domestic markets.
The Committee also stressed the importance of preventing hoarding, diversion, or smuggling of petroleum products, particularly in times of international volatility. Relevant authorities have been directed to maintain heightened vigilance and strengthen coordination with provincial governments to ensure that domestic supplies remain protected.
It was further decided that the Chief Secretaries of all provinces will participate in the Committee’s meeting tomorrow to deliberate on the final summary and proposed national action plan. The Committee will continue its deliberations to finalize a comprehensive strategy to be implemented at the national level with the cooperation of all stakeholders.
The meeting was attended by Federal Minister for Petroleum Mr. Ali Pervaiz Malik, Federal Minister for National Food Security and Research Mr. Rana Tanveer Hussain, Federal Minister for Power Mr. Sardar Awais Ahmad Khan Leghari, Minister of State for Finance Mr. Bilal Azhar Kayani, along with federal secretaries and senior officials from the concerned ministries, divisions, and regulatory bodies.
