The federal government has approved in principle weekly petroleum price revisions starting March 8 and is preparing fuel conservation measures like work-from-home in response to potential oil supply disruptions caused by the ongoing war in the Middle East.
A national action plan was finalized today in consultation with provincial authorities by a cabinet committee tasked with monitoring petrol prices. The plan will be presented to Prime Minister Shehbaz Sharif for approval and subsequent implementation by the federal Economic Coordination Committee.
The committee reviewed national petroleum stock levels and confirmed that reserves remain sufficient, while noting the global energy situation remains uncertain. It assessed international oil market conditions, shipping risks, and rising costs, emphasizing the need for diversified sourcing, alternative routes, and timely logistics to safeguard domestic supply.
Contingency measures under consideration include reviving protocols used during the COVID-19 pandemic, such as carpooling, remote work, and online learning, to conserve fuel and foreign exchange. Coordination with provincial administrations and regulatory authorities will target hoarding, illegal storage, smuggling, and distribution disruptions.
The government also reviewed the supply chains of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) and discussed options to manage demand efficiently while protecting priority sectors.
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