Islamabad: It has been decided by the high level committee set up on the order of Prime Minister Shehbaz Sharif on prices of petroleum amid Iran -Israel war to meet weekly to review the situation and submit recommendations to the Prime Minister.
The inaugural meeting of a high level committee chaired by Finance Minister Muhammad Aurangzeb was held in Islamabad today to monitor the prices of petroleum products in the context of regional tensions.
A working group will monitor developments on a daily basis to ensure timely response and effective coordination.
The committee was constituted on the directives of the Prime Minister in view of the evolving geopolitical situation following Israel’s recent attack on Iran and the resulting volatility at the international oil markets.
The committee is chaired by the Federal Minister for Finance, Muhammad Aurangzeb, and includes senior representatives from key federal ministries, regulatory authorities, and energy sector experts.
The formation of this committee reflects the government’s proactive approach to safeguarding national energy interests and ensuring market stability during a time of heightened international uncertainty.
The committee conducted a detailed assessment of the global and domestic petroleum market situation.
It expressed satisfaction that Pakistan currently holds adequate stocks of petroleum products and there is no immediate risk of supply disruption.
However, the members emphasized the need for continued vigilance given the rapidly changing regional context.
The Petroleum Division has been designated to provide secretarial support and ensure effective implementation of the committee’s mandate.
The Government of Pakistan remains fully committed to maintaining energy security, stabilizing markets, and protecting the national interest during this critical time.
