Govt assures adequate petroleum reserves

March 06, 2026 (MLN): Pakistan has sufficient petroleum reserves and there is currently no immediate threat of fuel shortages despite the emerging regional situation and uncertainty in global energy markets.

The government reviewing the country’s energy preparedness said national stocks of key petroleum products remain at comfortable levels, ensuring uninterrupted availability across the country, according to a press release issued.

However, it was noted that the global situation remains fluid as geopolitical tensions continue to impact energy supply chains, maritime routes and shipping costs.

Rising freight charges, higher insurance premiums and the possibility of supply disruptions at key global chokepoints could increase the cost of imports if volatility in the international oil market persists.

The assessment was made during a meeting of a committee constituted by Prime Minister Shehbaz Sharif to monitor petroleum prices and review developments in the energy sector.

The meeting was chaired by Finance Minister Muhammad Aurangzeb and attended by Petroleum Minister Ali Pervaiz Malik, Commerce Minister Jam Kamal Khan, National Food Security Minister Rana Tanveer Hussain, Information Minister Attaullah Tarar who joined virtually, Minister of State for Finance Bilal Azhar Kayani, and Governor State Bank of Pakistan Jameel Ahmad, along with federal secretaries and provincial chief secretaries.

Officials provided the committee with a detailed briefing on international oil market conditions, including movements in global benchmark prices, freight costs and insurance dynamics affecting maritime trade.

The meeting also reviewed potential “war premium” factors that could emerge in global energy markets during periods of geopolitical instability.

Accordingly, increased competition for oil cargoes in Asian markets could add pressure on Pakistan’s external account if global prices remain volatile.

The committee was informed that authorities are closely monitoring stock positions and supply chain movements to ensure smooth distribution across the country.

It was emphasized that maintaining uninterrupted availability of petroleum products remains the government’s top priority and that decisions related to pricing or supply management will be taken through established mechanisms to maintain stability in domestic markets.

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