Govt reaffirms commitment to energy sector transparency

August 10, 2026 (MLN): The government reaffirmed its commitment to strengthening energy security, attracting investment, and ensuring transparency in the petroleum sector.

Speaking at a corner meeting in Lahore, Minister for Petroleum Ali Pervaiz Malik said Pakistan's next major destination after achieving strategic and diplomatic successes was sustainable economic progress, according to a press release issued.

He said the government remained committed to providing maximum relief to the public despite limited financial resources, noting that Prime Minister Shehbaz Sharif had introduced a transparent petroleum pricing mechanism, with all pricing calculations available on the Oil and Gas Regulatory Authority website.

Turning to the Makkah Joint Defense Agreement, the minister termed it a great success, saying Saudi Arabia's economic strength, Türkiye's defense industry, and the Pakistan Army's expertise would open a new chapter of regional cooperation and promote peace and security.

Saudi Arabia, Pakistan and Turkey on Friday signed the Mecca Joint Defence Agreement, establishing a trilateral security framework aimed at strengthening collective defence and regional stability.

The agreement comes as the three Sunni Muslim allies of the United States respond to escalating regional tensions that have seen Gulf oil-exporting states targeted by missile attacks and disruptions to energy shipments.

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