ISLAMABAD: In light of the continuous rise in global oil prices, Prime Minister Shahbaz Sharif has established a 19-member committee to monitor fuel prices and supply in the country.
According to a notification from the Prime Minister’s Office, the committee will review daily price increases, availability, and stock positions of petroleum products. The committee will report directly to the Prime Minister.
Federal Minister for Finance Muhammad Aurangzeb will serve as the convenor of the committee, which will include the federal ministers for Petroleum and Energy, the Minister of State, the Governor of the State Bank, the Chairman of the FBR, and the Oil and Gas Regulatory Authority (OGRA).
Additionally, heads of major energy sector institutions, including Pakistan State Oil (PSO), Pak Arab Refinery Company (PARCO), Sui Southern Gas Company, and Sui Northern Gas Pipelines Limited, will also be part of the committee. Representatives from intelligence agencies, such as the IB and ISI, will also be included to identify any potential hoarding or artificial shortages.
The committee will also assess the economic impact of any changes in petroleum prices and provide medium and short-term recommendations. In case of supply disruptions, strategies will be devised to address the issue. If necessary, the committee may expand its membership.
According to the Ministry of Finance, the goal of this initiative is to ensure uninterrupted supply and price stability of petroleum products in Pakistan amid rising global prices, protecting the public from any potential crisis.
