In response to rising concerns over global oil prices following recent attacks by the U.S. and Israel on Iran, the Prime Minister’s Office has established a high-level committee to closely monitor petroleum prices and supply.
The 18-member committee will be chaired by Finance Minister Muhammad Aurangzeb and includes key members such as the Minister for Petroleum, Minister for Power Division, and Minister of State for Finance. The Governor of the State Bank of Pakistan and secretaries of relevant federal ministries are also part of the body.
The committee has been tasked with closely tracking global oil market trends and evaluating their potential impact on domestic petroleum prices.
It will also assess supply conditions, ensure demand-supply balance, and recommend policy measures to prevent sudden price shocks.
According to the notification, the committee will formulate strategies to shield consumers from the effects of global oil price volatility while maintaining stability in the local fuel market.
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