ISLAMABAD (MNN); Prime Minister Shehbaz Sharif on Friday chaired a high-level meeting to review the availability of petroleum products in the country and directed provincial governments to take strict legal action against those involved in hoarding fuel.
According to a statement issued by the Prime Minister’s Office, the Ministry of Petroleum provided a detailed briefing on the current stock position of petroleum products in light of the rapidly evolving regional situation.
Officials informed the meeting that Pakistan currently possesses sufficient petroleum reserves to meet national demand. However, the prime minister stressed that authorities must remain vigilant to prevent artificial shortages.
Shehbaz Sharif directed provincial governments to take strict action against individuals or businesses found hoarding fuel. He warned that any petrol pump involved in creating an artificial shortage would be immediately sealed, its licence revoked, and legal proceedings initiated.
The prime minister also instructed the petroleum minister to visit all provinces and, in coordination with provincial authorities, devise a comprehensive strategy to conserve petroleum products and ensure their uninterrupted supply to the public.
He further ordered the creation of a digital dashboard to monitor the movement of petroleum products across the country. The system will allow real-time sharing of data with provincial governments and help authorities track transportation and supply.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers Jam Kamal Khan, Ahsan Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar, Ali Pervaiz Malik and Awais Leghari, State Bank Governor Jameel Ahmad, as well as the chief secretaries of Sindh, Punjab, Khyber Pakhtunkhwa, Balochistan, Azad Kashmir and Gilgit-Baltistan.
The meeting took place as the conflict between the United States and Israel on one side and Iran on the other entered its sixth day, disrupting global supply chains due to the suspension of shipping through the Strait of Hormuz.
Finance Minister Muhammad Aurangzeb said that there is currently no fuel shortage in Pakistan, but warned that the situation could become serious if the conflict continues for a prolonged period.
Pakistan has already formally requested Saudi Arabia to facilitate an alternative oil supply route via the Red Sea to ensure continuity of fuel supplies.
A day earlier, the government also agreed in principle to introduce weekly petroleum price adjustments from March 8 to pass on additional costs, including increased insurance, freight charges and war risk premiums, to consumers.
The government is also considering the revival of certain measures introduced during the Covid-19 pandemic, excluding health restrictions, such as distance learning, work-from-home arrangements and car-pooling, in order to reduce fuel consumption and minimise foreign exchange losses.
A national action plan to tackle the emerging crisis has been prepared in consultation with provincial and regional governments during a meeting of the cabinet committee formed to monitor petroleum prices.
The plan was scheduled to be presented to the prime minister on Friday and, after further review and approval, will be placed before the Economic Coordination Committee of the cabinet for formal endorsement and implementation.
