ISLAMABAD — August 20, 2026: Federal Petroleum Minister Ali Pervaiz Malik has defended the government’s frequent changes in fuel prices, saying that petroleum prices are linked to international market fluctuations and are not changed arbitrarily by him.
Addressing the Pakistan Energy Conference in Islamabad, Ali Pervaiz Malik said he often faces criticism for allegedly changing fuel prices on a daily basis. He clarified that the prices are adjusted because fuel prices in the international market fluctuate regularly, while the government’s role is primarily to implement the applicable pricing mechanism.
“I do not change the prices; prices change in the global market,” the minister said, explaining that fuel prices are not necessarily fixed according to a weekly schedule and can change on a daily basis in international markets. He added that his responsibility is to implement the decisions according to the prevailing mechanism.
The petroleum minister also highlighted developments in Pakistan’s oil and gas sector, saying that work on offshore oil and gas exploration had resumed after a gap of 20 years. He described the renewed exploration effort as an important step toward strengthening the country’s energy security and reducing dependence on imported energy.
Ali Pervaiz Malik further said that despite an increase in gas prices, the circular debt in the energy sector had not increased, even though demand from the power sector had declined. He presented this as an indication of efforts to manage the financial challenges facing the energy sector.
Speaking about recent relief for consumers, the minister said that the government had provided relief in the price of diesel the previous day. He claimed that negotiations with refineries had resulted in their cooperation, ultimately allowing diesel prices to be reduced.
The minister also said that the government was working in accordance with the commitments made under its agreement with the International Monetary Fund (IMF). He stressed that energy-sector decisions were being taken while keeping the country’s financial commitments and economic conditions in view.
Regarding the modernization of Pakistan’s refining sector, Ali Pervaiz Malik said that an agreement for refinery upgrades would be finalized soon. The proposed upgrades are expected to improve refining capacity and efficiency and strengthen the country’s domestic petroleum infrastructure.
The minister’s remarks come amid continued public attention over changes in petrol and diesel prices and their impact on household budgets, transportation costs, and the broader economy.
About The Author
