A high-level committee chaired by Finance Minister Muhammad Aurangzeb on Monday reviewed the country’s petroleum reserves and pricing in light of escalating tensions in the Middle East following the recent Israeli strike on Iran.
The meeting, held in Islamabad, examined the impact of fluctuating global oil prices driven by the geopolitical developments in the region. Officials from the Ministry of Finance and Petroleum Division were in attendance.
According to a statement issued by the Ministry of Finance, the committee expressed satisfaction over the current availability of petroleum products, stating that the country holds sufficient reserves and faces no immediate threat of a supply crisis.
However, the committee stressed the need for vigilant monitoring of international developments and their potential economic repercussions. In view of the evolving situation, a working group has been formed to assess market conditions on a daily basis.
“The committee will convene on a weekly basis and present its recommendations to the Prime Minister,” the statement said, adding that the Petroleum Division has been assigned the role of secretariat to facilitate timely coordination and reporting
