KARACHI: The government and Pakistan State Oil (PSO) are exploring measures to strengthen the country’s strategic fuel reserves and diversify supply sources amid heightened global fuel price volatility and disruptions to key maritime routes, with a focus on safeguarding Pakistan’s energy security.
The development came during Federal Minister for Petroleum Ali Pervaiz Malik’s visit to PSO’s head office in Karachi, where he held high-level strategic and operational discussions with the company’s management.
According to PSO, the meeting focused on the evolving international energy environment, including volatile global fuel prices and disruptions to important maritime corridors that could pose risks to Pakistan’s petroleum supply chain.
The Minister and PSO leadership discussed a coordinated strategy to protect the domestic fuel market, including proactive international procurement, diversification of long-term supply sources and expansion of strategic buffer stocks.
PSO Chief Executive Officer Jawwad Ahmed Cheema briefed the Minister and his delegation on the company’s financial performance, recent operational achievements and future plans.
Ali Pervaiz Malik reviewed PSO’s initiatives related to national energy security and retail network modernisation, and appreciated the company for maintaining an uninterrupted nationwide fuel supply chain despite challenging geopolitical conditions.
The Minister assured PSO of the government’s full support in developing a balanced and resilient energy ecosystem focused on consumer interests and economic stability.
He reaffirmed the government’s commitment to expanding petroleum storage infrastructure, accelerating digitisation and automation, strengthening supply chain resilience and improving customer services.
Malik stressed the need for coordinated efforts among all stakeholders to develop a modern and resilient petroleum sector capable of responding effectively to international supply disruptions and market volatility.
PSO said the Minister’s visit reflected the government’s continued focus on strengthening national energy preparedness amid heightened global uncertainty and recognised the company’s central role in securing Pakistan’s fuel supplies.
The discussions come shortly after the government launched a feasibility study for establishing Strategic Petroleum Reserves on August 25, aimed at creating stronger fuel buffers against potential supply disruptions. The initiative was launched against the backdrop of heightened concerns surrounding the Strait of Hormuz and its importance to global energy trade.
