ISLAMABAD: Pakistan has fully secured its fuel requirements for March, with sufficient stocks and supply arrangements in place to ensure availability until mid-April, a high-level committee reviewing petroleum prices was informed on Monday.
The committee, chaired by Finance Minister Muhammad Aurangzeb, was briefed that the country remains “adequately positioned” in terms of fuel availability, with ongoing import planning and logistics supporting continued supply. Efforts are also underway to extend coverage through the end of April amid evolving regional challenges.
The meeting, held at the Finance Division, reviewed national inventories of crude oil and refined petroleum products, import schedules, and maritime logistics as part of daily monitoring in light of tensions in the Middle East.
Officials highlighted that Pakistan currently maintains comfortable stock levels for March, supported by scheduled imports and contingency planning. The committee emphasised the need to further diversify fuel supply sources to strengthen energy security and reduce reliance on any single route or region.
Finance Minister Aurangzeb reassured that the government remains committed to ensuring uninterrupted availability of petroleum products across the country. He stressed that there is no need for panic buying or hoarding, warning that any attempts to create artificial shortages would be dealt with strictly under the law.
The committee also directed authorities, in coordination with the Oil and Gas Regulatory Authority (OGRA) and provincial governments, to closely monitor stock levels and market activity.
The meeting was attended by Petroleum Minister Ali Pervaiz Malik, Maritime Affairs Minister Junaid Anwar Chaudhry, State Bank of Pakistan Governor Jameel Ahmad, and other senior officials.
Separately, Prime Minister Shehbaz Sharif reviewed the situation and discussed further relief measures for the public. He noted that timely government decisions had ensured adequate fuel availability despite regional disruptions and reaffirmed that economic stability and public relief remain top priorities.
The prime minister also directed fuel distribution companies to strictly adhere to government-notified prices and highlighted the introduction of a feature on the “PAK App,” enabling consumers to report fuel shortages or overpricing.
Earlier, the Senate Standing Committee on Petroleum was informed that Pakistan has petrol reserves for 27 days and diesel for 21 days. Petroleum Secretary Hamed Yaqoob Sheikh said jet fuel stocks are sufficient for 14 days, crude oil for 11 days, and liquefied natural gas (LNG) for nine days.
However, officials warned of emerging challenges in the gas sector. LNG imports from Qatar have remained suspended since March 2, with only two out of eight scheduled cargoes arriving in March. The arrival of six expected shipments in April remains uncertain.
Gas supply to the power sector has already been reduced from 300 to 130 million cubic feet per day (MMCFD), while supply to a fertiliser plant has been cut by 50 per cent. Officials cautioned that LNG may not be available after April 14, potentially impacting electricity generation.
To manage the situation, authorities are considering alternative imports, including spot LNG purchases from Azerbaijan’s state oil company. However, such imports would be significantly more expensive — around $24 per unit compared to $9 under existing Qatar agreements — potentially leading to higher electricity costs.
The government has recently increased kerosene prices by Rs40 per litre and approved a Rs23 billion subsidy for oil marketing companies to maintain petrol and diesel prices for the current review period. Earlier, a Rs55 per litre hike in petrol and diesel prices was implemented in response to global market pressures.
Officials reiterated that the situation remains under close watch, with the government fully prepared to respond to any further disruptions.
Story by Khaleeq Kiani
