Key Takeaways
- Federal Petroleum Minister Ali Pervaiz Malik warns of potential petrol price hike.
- Minister cites international oil price increases and local supply concerns.
- Government pledges to prevent gas shortages during winter.
Federal Petroleum Minister Ali Pervaiz Malik has issued a warning that petrol prices could rise to Rs 1,000 per litre if a shortage develops in the country, according to a statement issued to the media in Lahore.
Malik stated that while there is currently no shortage of petrol, the prices could sharply increase if supplies become scarce. He attributed the potential rise to significant increases in oil prices in Europe and the United States, noting that international oil prices have risen by 80 percent.
The minister explained that Pakistan has only passed on about 50 percent of the increase to consumers, indicating that the government has absorbed a portion of the cost to mitigate the impact on the public.
In response to political criticism, Malik urged everyone to avoid politicizing people’s difficulties and emphasized that the government would ensure that people do not face a gas shortage during winter, even if it has to spend $100 million instead of $3 million on gas imports.
Malik also highlighted that fuel-related tokens worth Rs 180 million were issued in a single day on Friday, indicating the government's efforts to manage fuel distribution.
The minister announced that work has started on oil wells and the government expects oil discoveries within October, suggesting a long-term strategy to address the country's energy needs.
Responding to political criticism, Malik urged everyone to avoid politicizing people’s difficulties and emphasized that the government would ensure that people do not face a gas shortage during winter, even if it has to spend $100 million instead of $3 million on gas imports.
Malik also stated that no one would be allowed to march on Islamabad, indicating the government's stance on public demonstrations.
There is currently no petrol shortage but prices could rise sharply if supplies become scarce.
Ali Pervaiz Malik, Federal Petroleum Minister
The government would ensure that people do not face a gas shortage during winter, even if it has to spend $100 million instead of $3 million on gas imports.
Ali Pervaiz Malik, Federal Petroleum Minister
