Pakistan is prepared to meet domestic fuel demand despite disruptions caused by the ongoing Middle East conflict, officials said Monday, as the government raised petrol and high-speed diesel prices by Rs55 per litre to manage supply challenges.
A ministerial committee chaired by Finance Minister Muhammad Aurangzeb, tasked with daily monitoring of the energy sector, was briefed on crude oil and petroleum product inventories, import arrangements, and maritime logistics. Officials said March fuel requirements are fully secured, and coverage extends up to mid-April, with measures under way to extend reserves to the end of the month.
The committee noted that Pakistan maintains comfortable stocks of crude oil and refined petroleum products and is actively diversifying supply sources to reduce reliance on any single corridor, strengthening energy security. Procurement patterns and import strategies are being adjusted to ensure uninterrupted availability.
Finance Minister Aurangzeb reassured the public that the government is fully focused on fuel supply, warning against panic buying or hoarding. Authorities, in coordination with OGRA and provincial governments, have been directed to monitor stock levels and market activity. “Any attempts to create artificial shortages or disrupt normal supply will be dealt with strictly in accordance with the law,” he said.
Prime Minister Shehbaz Sharif, in a separate meeting, said timely government action ensured sufficient fuel stocks and highlighted ongoing relief measures for the public. He instructed fuel distribution companies to sell at government-mandated rates and noted that third-party auditors are overseeing compliance with austerity measures.
Petroleum Secretary Hamed Yaqoob Sheikh told the Senate Standing Committee on Petroleum that Pakistan’s reserves are sufficient for 27 days of petrol, 21 days of diesel, 14 days of jet fuel, 11 days of crude oil, and nine days of LNG. He added that 70 percent of petrol imports come from the Middle East, and suspension of shipping has contributed to rising prices.
Officials said diesel prices have risen by 100 percent and petrol by 70 percent compared to pre-March 7 levels. The government approved a Rs23 billion price differential subsidy to maintain petrol and diesel prices for the current week.
LNG imports from Qatar have been disrupted, with only two of eight cargoes scheduled for March having arrived; six more are expected in April. Domestic gas supplies have been reduced to the power and fertiliser sectors, while households will continue receiving gas. Spot LNG purchases from Azerbaijan’s SOCAR are now priced at $24 per unit, compared with $9 from Qatar, raising potential electricity costs.
The government also increased kerosene prices by Rs40 per litre and is developing relief packages for motorcycles and rickshaws to mitigate rising fuel costs. Officials said ongoing monitoring and stock management are aimed at stabilising supply and preventing artificial shortages.
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