ISLAMABAD: The government is set to announce a decision on petroleum product prices in Pakistan tonight, following a high-level review of petroleum reserves and global market trends, ARY News reported.
The meeting, chaired by Finance Minister Ishaq Dar, reviewed current stocks of petroleum products and examined international price movements. Recommendations for necessary adjustments to petroleum product prices were discussed during the session.
Participants included the Federal Minister for Petroleum, the Minister for Commerce, and other senior government officials. Senior representatives from OGRA, PARCO, and other related institutions also attended to provide technical input.
Officials said the final decision on petroleum product prices will consider both domestic supply levels and global price fluctuations to ensure stability for consumers and the transport sector.
Pakistan fuel shortage rumours debunked
Earlier, the Pakistan Petroleum Dealers Association (PPDA) had warned that petrol pumps across the country may begin shutting down from Monday if fuel supplies are not restored, as concerns grow over the emerging Pakistan fuel shortage.
According to details, the association expressed serious concern over the worsening Pakistan fuel shortage, saying the disruption in the supply of petroleum products has already begun to affect fuel availability at retail outlets.
PPDA Central Secretary General Chaudhry Irfan Elahi said petrol supply across the country has dropped by nearly 50 percent, while diesel availability has fallen to only 20 percent of normal levels. He warned that the situation could severely impact the transport sector if the Pakistan fuel shortage continues.
Lahore President Jehangir Malik and Central Punjab President Nauman Majeed urged the government to ensure an uninterrupted supply of petrol to retail outlets to prevent further escalation of the Pakistan fuel shortage.
They also criticized authorities for targeting petrol pumps during inspections instead of checking supply depots. According to the association, some private oil companies have allegedly started hoarding petroleum products, which could lead to an artificial shortage and worsen the Pakistan fuel shortage situation.
On the other hand, the Oil and Gas Regulatory Authority (OGRA) issued a statement contradicting the dealers’ claims, stating that the country has sufficient reserves of petroleum products. It said that due to early imports, Pakistan has enough petrol stocks to meet 28 days of consumption, and there is no need for panic.