ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik has assured that Pakistan has adequate petroleum reserves and is not facing any immediate risk of fuel supply disruptions.
Speaking during a private television programme, the minister said Prime Minister Shehbaz Sharif had tasked him with overseeing the situation when petroleum prices increased previously.
Malik stated that the country maintains sufficient stocks of petroleum products, while noting that no government can prevent fluctuations in global crude oil prices.
He said the petroleum levy on fuel remains lower than it was before the war, adding that Pakistan cannot completely shield itself from the impact of rising international oil prices.
However, he stressed that limiting domestic fuel price increases would require reducing overall fuel consumption.
The minister revealed that the government collected approximately Rs1.5 trillion in petroleum levy during the previous fiscal year.
He added that changes in global crude oil prices are driven by international market conditions and remain beyond the control of any individual or government.
Malik further said Pakistan’s refineries currently hold crude oil stocks sufficient for five to seven days, while the country’s overall petroleum reserves are adequate to meet domestic demand.
He urged consumers to adopt energy conservation measures, saying reduced fuel demand could help ease price pressures.
He also said the government is continuously monitoring developments in the global oil market.
