ISLAMABAD: The Cabinet Committee on Petroleum has assured that the country’s reserves of oil and gas are at satisfactory levels. The committee, chaired by Finance Minister Muhammad Aurangzeb, held a meeting to review the supply of petroleum products across the nation.
During the meeting, the global market situation was also discussed. It was reported in a briefing that Pakistan’s oil and gas reserves are adequate, and supply is stable due to effective import arrangements and domestic production. The committee was informed that the distribution system for petroleum products is functioning normally, with a substantial volume of petrol cargo already secured for March and April. Additionally, refineries across the country are operating as usual.
The committee directed refineries to maintain their production levels to ensure continuous supply. A detailed review of the fluctuations in global oil prices was also conducted. It was noted that the government is actively monitoring the gap between international and domestic prices and is working to stabilize energy supplies through G2G (Government-to-Government) agreements. A diversified strategy for importing oil from various countries has also been adopted.
Finance Minister Aurangzeb emphasized the importance of close monitoring by relevant agencies and reaffirmed that uninterrupted supply of petroleum remains the government’s top priority.
