Pakistan to Pass Oil Price Relief to Consumers

According to Petroleum Minister Ali Pervaiz Malik, the prime minister has instructed relevant authorities to ensure that reductions in international petroleum prices are immediately reflected in domestic fuel rates.

He stated that the recent decline in global oil prices, linked to developments in the US-Iran peace process, has created an opportunity to provide relief to the public.

The minister further claimed that diplomatic efforts by the prime minister, Field Marshal Syed Asim Munir, the foreign minister, and the interior minister were beginning to yield positive results, with a formal signing of the US-Iran agreement reportedly approaching completion.

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Ali Pervaiz Malik also announced the formation of a high-level committee tasked with developing a transparent weekly fuel pricing mechanism. The proposed system aims to provide greater clarity to citizens regarding fluctuations in petroleum product prices.

He said the new pricing framework would be designed in consultation with all relevant stakeholders to ensure transparency and consistency in decision-making.

The minister added that Pakistan’s fuel supply chain had remained stable and uninterrupted despite regional geopolitical tensions.

He noted that the government is reviewing its broader energy security strategy to enhance resilience and ensure long-term stability in the sector.

Ali Pervaiz Malik expressed appreciation for public cooperation during a period of global uncertainty and said further measures were being considered to safeguard national energy interests and maintain economic stability.