ISLAMABAD: Federal Petroleum Minister Ali Pervaiz Malik has warned that Pakistan faces serious fuel reserve challenges amid escalating geopolitical tensions, raising concerns over the country’s energy security.
Speaking on Samaa TV’s program “Nadeem Malik Live,” the minister said the conflict shows no signs of ending and continues to fuel uncertainty in global energy markets. As a result, he stressed the need for immediate planning to safeguard Pakistan’s energy supplies.
Malik revealed that Pakistan currently holds only five to seven days of crude oil reserves. Moreover, he noted that petrol reserves are critically low, with less than a single day’s supply available. Consequently, he warned that the country remains highly vulnerable to external disruptions in fuel supply.
In addition, the minister highlighted the volatility in international oil markets. He stated that historically, Dubai crude prices have not reached levels as high as $170, indicating extreme fluctuations in current conditions. Nevertheless, he said the government is working to ease the public burden and has attempted to extend subsidies where feasible.
Meanwhile, he emphasized that Prime Minister Shehbaz Sharif is closely monitoring the situation to ensure uninterrupted petrol availability despite global uncertainty.
Furthermore, Malik underscored the importance of diesel in Pakistan’s economy, particularly for transportation and agriculture. Therefore, he said, maintaining stable pricing and supply remains a top priority.
He also disclosed that consultations with the prime minister and relevant authorities have led to a proposal for a 30-day crude oil reserve plan to strengthen long-term energy security.
Finally, the minister questioned the existing diesel pricing formula, in place since 2002, and called for a review to ensure fairness, efficiency, and alignment with global price trends.
