Petroleum Minister Ali Pervaiz Malik says Pakistan’s fuel supply remains secure and stable, but IMF commitments must be honoured. He links lasting petrol price control to resolving US-Iran tensions and calls for OGRA digitalisation and deregulation.
Ali Pervaiz says breaching IMF commitments could hurt economic stability, stressing Pakistan’s fuel supply secure despite global volatility
Contrasts Pakistan’s supply position with shortages reported in India, saying lasting control over petrol prices tied to end of US-Iran tensions
Says strategic diesel-to-petrol adjustments helped strengthen domestic fuel availability, terming OGRA digitalisation, deregulation key to transparency and sector efficiency
ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik on Saturday underscored that Pakistan remained bound by its agreement with the International Monetary Fund (IMF), warning that any failure to honour the commitments could have serious consequences for the country’s economic stability, while stressing that lasting control over petroleum prices depended on resolving global conflicts.
Speaking exclusively to a local news channel, the minister said Pakistan’s fuel supply remained secure and stable, unlike India where, he claimed, citizens had recently faced long queues and shortages at petrol pumps.
“Pakistan’s fuel supply is secure, unlike India, where citizens faced long queues and shortages at petrol pumps,” Malik said, adding that the government was making continuous efforts to stabilize fuel prices and maintain market balance.
He said Pakistan’s energy situation remained comparatively stronger than that of several regional countries facing economic stress due to ongoing global conflicts and volatility in international markets.
The minister lauded the leadership of Prime Minister Shehbaz Sharif, Field Marshal Syed Asim Munir and Deputy Prime Minister Ishaq Dar for taking proactive measures to ensure energy security and safeguard economic stability.
Highlighting Pakistan’s economic obligations, Malik said the country had entered into an agreement with the IMF that must be honoured in letter and spirit, cautioning that any deviation from those commitments could negatively impact the national economy.
He expressed confidence that strategic adjustments in fuel management — including reducing diesel load and diverting it towards petrol supply — had helped strengthen fuel availability and improve price management.
Responding to a query, the petroleum minister said Pakistan did not produce oil or petrol domestically and relied entirely on imports to meet its energy requirements, making strategic planning and effective supply management critical for ensuring market stability.
He noted that permanent control over petroleum product prices was closely linked to the resolution of global conflicts, particularly tensions between the United States and Iran, which directly influenced international oil markets.
The minister said ending such geopolitical tensions, along with addressing broader regional conflicts, remained essential for achieving long-term stability in fuel prices.
Responding to another question, Malik highlighted the ongoing digitalisation process in the Oil and Gas Regulatory Authority (OGRA) and stressed the need for further deregulation to improve efficiency and transparency in the petroleum sector.
He said these reforms were vital for strengthening governance mechanisms and streamlining the management and distribution of petroleum products across the country.