Fuel stocks sufficient to meet national demand, says PM

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday said adequate reserves of petroleum pro­ducts were available in the country to meet national requirements, urging citizens to avoid unnecessary travel and adopt teleconferencing at workplaces to conserve fuel.

Presiding over a meeting to review the implementation of fuel conservation and austerity measures amid the prevailing US-Israel war on Iran, the prime minister said sufficient petroleum reserves were available “due to timely government decisions” and effective monitoring of the supply chain.

The assurance came as Pakistan and several other countries are faced with a sharp rise in global oil prices triggered by the Middle East conflict, which has disrupted supply routes, particularly because of the Strait of Hormuz crisis, and pushed up fuel costs internationally.

The crisis has placed additional pressure on import-dependent economies like Pakistan, raising fears of inflationary spillovers and external account stress. The government has rolled out a series of austerity measures over the past few weeks, including significant cuts in development spending, restrictions on non-essential expenditures and steps to rationalise energy consumption.

Petroleum product prices were also increased earlier this month, though the government absorbed a large portion of the cost.

According to the Prime Minister’s Office, PM Shehbaz said providing relief to the public remained the government’s top priority and stressed that maximum possible support had been extended to citizens over the past three weeks.

He said the federal government had allocated Rs125 billion through savings and reductions in the development budget to prevent a sharper increase in fuel prices.

The government is also working to introduce a targeted subsidy framework for low-income groups, particularly motor­cycle riders and rickshaw drivers, to ensure that relief measures are better directed and leakages are minimised. The prime minister asked provincial governments to facilitate motorcycle and rickshaw owners in registering their vehicles in their own names to improve documentation and enable them to benefit from future targeted relief programmes.

He also directed authorities to enhance coordination with chief secretaries of all provinces, as well as Azad Kashmir and Gilgit-Baltistan, to ensure uniform implementation of conservation measures across the country.

Officials briefed the meeting on the progress of austerity and conservation initiatives, stressing that the demand and supply of petroleum products, along with the entire supply chain, were being closely monitored through a digital dashboard. They added that arrangements for petrol imports for April had already been finalised to ensure uninterrupted availability. They noted that, unlike several countries facing fuel shortages and long queues at petrol stations, Pakistan had so far avoided major supply disruptions, reflecting “effective government handling” and “timely decisions”.

A briefing was also given on a proposed mobile application-based fuel support programme for two- and three-wheeler users. The system is expected to digitise fuel distribution for eligible consumers and improve transparency and efficiency in subsidy delivery.