LAHORE: Federal Minister for Petroleum Ali Pervaiz Malik has stated that if international oil prices remain steady over the next two days, the public will receive good news regarding fuel prices, ARY News reported.
Speaking at a press conference in Lahore, the minister noted that Pakistan imports 90 percent of its energy requirements. He acknowledged the ongoing challenges surrounding petrol pricing, adding that the Prime Minister has continuously worked to ease the financial burden on the public.
Despite constraints under the IMF program, the government has provided every possible relief and done its utmost to shield citizens from skyrocketing global oil prices.
The minister stated that conflict in the region had triggered temporary supply disruptions, noting that even countries with fuel reserves worth $6 billion to $7 billion experienced queues at petrol stations during the crisis.
He further emphasized that the Prime Minister has dispelled the threat of default through tough economic decisions taken over the last two to three years.
Asserting that Pakistan has emerged as a key regional security provider, he added that achieving financial stability is the nation’s next milestone.
Read More: Wheel-jam strike announced for August 10
Highlighting recent diplomatic developments, the minister expressed pride in the joint Makkah Defense Accord, attributing its success to the joint efforts of the Prime Minister, the Field Marshal, and the Deputy Prime Minister.