The meeting was held to review the possible impact of the widening conflict in the Middle East on Pakistan’s fuel supply and economy. Finance Minister Muhammad Aurangzeb and Sindh Chief Minister Murad Ali Shah also attended the session.
The briefing came a day after Prime Minister Shehbaz Sharif asked the finance and petroleum ministries to work closely with provincial governments. The goal is to ensure an uninterrupted supply of petroleum products and avoid any fuel shortages.
During the meeting, the federal delegation gave a detailed update to the Sindh chief minister about the increase in global oil prices and the current fuel reserves available in the country.
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Finance Minister Aurangzeb warned that Pakistan’s monthly oil import bill could rise to around $600 million because of the ongoing conflict. He added that the government is closely watching global energy markets and preparing alternative plans to manage the economic pressure.
Officials also shared concerns that crude oil prices could climb to $120 per barrel if tensions in the region become worse.
The delegation said Pakistan is also in diplomatic contact with Saudi Arabia, Oman, and the United Arab Emirates to secure alternative fuel supplies if needed. Officials are exploring supply routes other than the Strait of Hormuz to reduce risks.
The petroleum minister also said that disruptions in liquefied natural gas supplies may occur after Qatar declared force majeure.
Ali Pervaiz Malik stressed that fuel-saving measures are necessary so the country’s existing reserves can last longer. He also said Pakistan may ask the International Monetary Fund for relief in the petroleum levy to reduce financial pressure.
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Sindh Chief Minister Murad Ali Shah said the proposals discussed in the meeting will be presented before the provincial cabinet for further review.
He also urged responsible use of energy and cooperation from the public, saying that keeping the economy running smoothly remains the government’s top priority.
Several senior officials from the petroleum division, Oil and Gas Regulatory Authority, and Sui Southern Gas Company also attended the meeting.
