Islamabad: Federal Minister for Petroleum Ali Pervaiz Malik has announced that the government will pass on the benefits of declining global oil prices to consumers and has formed a high-level committee to develop a transparent weekly pricing formula for petroleum products.
In a statement on X, the minister said that diplomatic efforts led by Prime Minister Shehbaz Sharif and other key officials are contributing to regional stability, with Iran and the United States reportedly moving closer to a ceasefire agreement.
Ali Pervaiz Malik said the new pricing mechanism will help the public better understand the reasons behind fuel price changes and will be finalized after consultations with all stakeholders.
He added that despite recent regional tensions, Pakistan maintained an uninterrupted fuel supply chain. The government is also reviewing its energy security framework and working on new measures to strengthen the country’s long-term energy security.
The minister thanked industry partners and the public for their cooperation and reiterated the government’s commitment to ensuring transparency and providing relief to consumers.
