ISLAMABAD: Pakistan has sufficient petroleum stocks to meet domestic demand, Prime Minister Shehbaz Sharif said on Sunday, as the government stepped up fuel conservation measures in response to rising global oil prices linked to tensions in the Middle East.
Chairing a review meeting on fuel supply and austerity measures, Prime Minister Sharif said timely government actions had ensured the availability of petroleum products across the country, according to a statement issued by the Prime Minister’s Office.
The meeting assessed the implementation of ongoing fuel-saving initiatives amid the evolving regional situation.
Relief measures and price controls
PM Sharif said the government had prioritised public relief and had extended “maximum possible” support to citizens over the past three weeks.
To protect consumers from the impact of rising global oil prices, the federal government allocated Rs125 billion by making savings and cutting development spending, he said.
Two days earlier, PM Sharif rejected a proposal to increase petrol and high-speed diesel prices despite a sharp surge in international oil rates.
Addressing the nation, the Prime Minister said a summary had recommended raising petrol prices by Rs95 per litre and diesel by Rs203 per litre.
He declined to approve the increase, stating that the government would absorb the additional financial burden instead of passing it on to consumers.
He added that petrol should currently cost Rs544 per litre but was being sold at Rs322, while diesel, which should cost Rs790 per litre, was available at Rs335 due to government subsidies.
Call for public cooperation
The prime minister urged citizens to support the government’s austerity drive by avoiding unnecessary travel and promoting teleconferencing in offices and workplaces.
He also directed provincial authorities to facilitate motorcycle and rickshaw owners in registering their vehicles in their own names.
The move aims to digitise vehicle data nationwide and enable owners to benefit from future relief programmes.
Officials told the meeting that a proposal for a targeted fuel support programme for motorcycle riders and rickshaw drivers had been prepared.
Monitoring supply and imports
Officials told the meeting that Pakistan’s fuel supply chain is being closely monitored through a digital dashboard that tracks supply, demand and distribution in real time.
They said arrangements for fuel imports for April had already been finalised, helping to stabilise supplies.
Unlike some other countries facing shortages, Pakistan has not experienced long queues or disruptions in fuel availability, officials said, attributing this to effective planning and timely decision-making.
Coordination across provinces
PM Sharif instructed authorities to enhance coordination with chief secretaries of all four provinces, as well as Azad Jammu and Kashmir and Gilgit-Baltistan, to ensure smooth implementation of fuel conservation measures.
The meeting was attended via video link by Deputy Prime Minister Ishaq Dar, federal ministers including Ahsan Iqbal and Attaullah Tarar, Special Assistant Tariq Bajwa, State Bank Governor Jameel Ahmad, and other senior officials.
