ISLAMABAD:Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Friday chaired a high-level meeting to review the country’s stock of petroleum products and examine the impact of recent increases in international oil prices driven by global developments.
The meeting assessed the current availability of petroleum products across the country and discussed the implications of fluctuations in global markets on domestic fuel prices, a DPM’s Office news release said.
The officials briefed the committee on the existing reserves and supply situation to ensure stability in the local market.
During the session, the committee also considered recommendations presented by the Ministry of Petroleum regarding necessary adjustments in petroleum product prices. The proposed changes, if approved, will come into effect from midnight tonight (March 6–7).
The meeting was attended by the Federal Ministers for Finance, Petroleum and Commerce, the Minister of State for Railways and Finance, Special Assistant to the Prime Minister Tariq Bajwa, and senior officials from relevant ministries. Representatives from the Oil and Gas Regulatory Authority (OGRA), Pak-Arab Refinery Company (PARCO), and other concerned government departments also participated in the review meeting.
The discussion focused on ensuring adequate petroleum supplies in the country while addressing the impact of international price volatility on the domestic market.