ISLAMABAD: Pakistan currently has adequate stocks of petrol and diesel to meet domestic demand for April and beyond, officials said on Thursday.
The assessment was shared during a meeting chaired by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar to review the country’s petroleum reserves.
In addition to evaluating fuel stocks, the meeting also reviewed preparedness in light of the evolving situation in the Middle East.
The deputy prime minister expressed satisfaction over the existing supply position and directed relevant ministries and authorities to maintain close coordination, ensure uninterrupted availability, and take all necessary measures to safeguard supplies in the coming weeks.
The meeting was attended by the federal ministers for petroleum and economic affairs, Special Assistant to the Prime Minister Tariq Bajwa, senior federal secretaries, as well as chief secretaries and officials from the provinces.
Earlier, reports indicated that Pakistan had devised a plan to cushion the impact of rising global oil prices. The government has released an initial Rs27 billion to help keep petrol prices stable for consumers.
On the directives of Prime Minister Shehbaz Sharif, the Oil and Gas Regulatory Authority (OGRA) has been provided the first tranche of Rs27 billion from the Prime Minister’s Austerity Fund.
The amount is intended to partially settle “price differential claims” that emerged after the government decided to shield consumers from increases in global oil prices.
The funds were arranged through various expenditure reduction measures within the federal government and deposited into the Prime Minister’s Austerity Fund.
Officials said the government is also considering additional cost-cutting measures to continue providing relief to the public while staying within budgetary limits and identifying further savings.
