Islamabad – Three petroleum shipments are expected to reach Pakistan by Monday, Petroleum Minister Ali Pervaiz Malik announced during an emergency briefing on Sunday, as the government scrambles to address fuel supply concerns triggered by the widening Middle East conflict.
The meeting, attended by Finance Minister Muhammad Aurangzeb and Sindh Chief Minister Murad Ali Shah, follows Prime Minister Shehbaz Sharif’s directive to develop a strategy for conserving and ensuring uninterrupted supply of petroleum products amid the Israel-Iran war.
Ships Arriving, But Challenges Mount
Malik confirmed that three fuel shipments are due tomorrow, offering immediate relief. However, the longer-term picture is concerning.
Finance Minister Aurangzeb warned that Pakistan’s monthly oil import bill could increase to $600 million in the backdrop of the conflict. He added that crude prices could rise to $120 a barrel if the situation escalates further.
The government is continuously monitoring global energy markets and preparing alternative plans to deal with the financial impact.
Supply Routes at Risk
The delegation informed CM Shah that diplomatic contacts are ongoing with Saudi Arabia, Oman, and the UAE for alternative fuel supplies. Efforts are underway to secure alternate supply routes other than the Strait of Hormuz, through which a significant portion of Pakistan’s oil imports pass.
Additionally, the petroleum minister noted that due to Qatar declaring force majeure, LNG supply disruptions are also anticipated.
Conservation and Crackdown
Fuel-saving measures are necessary so that existing reserves last longer, Malik asserted. The federal and provincial governments decided to increase coordination to prevent hoarding at petrol pumps.
Aurangzeb briefed the meeting on a joint dashboard being prepared to monitor fuel reserves in real-time.
CM Shah affirmed that all proposals discussed would be presented to the Sindh cabinet for consideration. “Responsible use of energy and public cooperation are necessary, with smooth functioning of the economy the government’s top priority,” he said.
Punjab Follows Suit
Separately, Punjab Chief Minister Maryam Nawaz reviewed the supply, demand, and reserves of petroleum products in the province with the finance and petroleum ministers.
An agreement was reached to adopt a conservation policy to maintain balance between demand and supply. CM Nawaz emphasized the need to ensure continued diesel supply for agricultural use.
She asserted that no one would be allowed to sell petroleum products above prescribed prices anywhere in Punjab, adding that citizens should not have to stand in long queues at petrol pumps.
She called on the “entire nation to demonstrate resilience” to cope with these challenges.
The Punjab Enforcement and Regulatory Authority (PERA) and the Transport Department were directed to monitor the situation and take action against hoarders.
The Price Hike
On Friday, the government increased petrol and high-speed diesel prices by Rs55 per litre—the highest-ever such hike—as Pakistan felt the first direct economic impact of the US-Israel war on Iran.
- High-speed diesel: Now Rs335.86 per litre (up ~20%)
- Petrol: Now Rs321.17 per litre (up ~17%)
The decision was driven by disruption in fuel supplies through the Strait of Hormuz.
Opposition Protests
The opposition alliance Tehreek Tahafuz Ayeen-i-Pakistan (TTAP) termed the price hike an “economic burden on the public.”
Speaking at a press conference, TTAP leader Muhammad Zubair questioned why petrol purchased at around $65 per barrel was being sold at rates equivalent to $90, alleging the government would amass approximately Rs110 billion through this decision.
He claimed the FBR was already facing a Rs600 billion shortfall, and proper economic management could have provided relief instead of increasing prices.
“Life has already become extremely difficult for motorcyclists and low-income people. An increase in petrol prices will raise the cost of all goods and services,” Zubair said.
He criticized the ruling elite for imposing burdens without making sacrifices themselves, asking why fuel and other perks of the bureaucracy had not been cut.
