Pakistan received a fresh crude oil shipment on Wednesday, with another vessel expected to dock soon, as the government steps up efforts to maintain stable fuel supplies amid volatile international markets and regional tensions.
The update came during a meeting of the Committee to Monitor Petrol Prices, chaired by Federal Minister for Finance and Revenue Muhammad Aurangzeb. The session, held at federal offices, was attended by Federal Minister for Petroleum Ali Pervaiz Malik, Federal Minister for National Food Security and Research Rana Tanveer Hussain, the Governor of the State Bank of Pakistan, and senior officials from relevant ministries, divisions, and regulatory authorities.
Officials briefed the committee that domestic petroleum stocks remain sufficient. Diesel reserves currently cover approximately 24 days of demand, while petrol stocks are at comfortable levels, supported by ongoing refinery output and continuous imports.
The Petroleum Division reported that one crude cargo is being discharged at Karachi port, with another expected to arrive within hours. Additional shipments are in transit, and import arrangements for March and April are actively being managed to reinforce national reserves.
Committee members were told that refinery throughput will improve as incoming cargoes are processed, with production optimization efforts ongoing. Global markets, however, remain tight, with rising benchmark prices and elevated cargo premiums increasing landed import costs and pressuring existing financing arrangements.
Aurangzeb directed authorities to coordinate with the State Bank of Pakistan and Pakistan Banks’ Association to facilitate larger Letters of Credit (LCs), including temporary enhancements or consortium-based financing where needed. The SBP Governor assured that prudential limits would be reviewed promptly, while banks were encouraged to adopt flexible measures to accommodate higher transaction volumes.
Domestic demand patterns were also discussed, noting increased fuel offtake in recent weeks. Authorities emphasized close monitoring to prevent speculative stockpiling and maintain smooth distribution. Provincial administrations and regulatory bodies have been instructed to intensify inspections and enforcement measures as necessary.
In preparation for Eid holidays and the harvesting season, oil marketing companies (OMCs) will maintain operational readiness, with depots remaining functional to ensure uninterrupted supply.
The committee also reviewed progress on a digital monitoring dashboard to provide real-time visibility of stock levels and supply conditions. Officials briefed members on ongoing engagements with international partners to diversify supply sources, including government-to-government agreements expected to strengthen reserves in the coming weeks.
Aurangzeb stressed that the government’s top priority remains uninterrupted availability of petroleum products while minimizing the public burden. He directed the committee to continue daily monitoring of global markets, domestic stock levels, and supply chain dynamics to enable timely, coordinated policy action.
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