Petrol relief programme may see a comeback in Pakistan

The Minister for Petroleum in Pakistan, Ali Pervaiz Malik, has said the government may reinstate a targeted petrol subsidy mechanism if tensions in the region persist and global petrol prices do not decline.

Speaking to the media, Ali Pervaiz Malik has said that the regional security situation remains uncertain.

“The intensity of the conflict eased for two to three days before escalating again. If the situation moves towards a lasting ceasefire, petrol prices could fall,” he said.

The federal minister clarified that petrol relief for the people is conditional on an easing of regional tensions.

Earlier, the petroleum minister of Pakistan said the renewed closure of the Strait of Hormuz had created uncertainty in global energy markets, making the role of the government’s monitoring committee even more important.

He also said petrol prices in Pakistan are lower than those in Bangladesh, Sri Lanka and Turkiye, and are almost equal to prices in India.

Ali Pervaiz Malik added that amendments to the refinery policy had been proposed to reduce the country’s reliance on imported diesel.

According to the minister, increasing domestic diesel production would further strengthen Pakistan’s energy security.