Islamabad: The Cabinet Committee to Monitor Petrol Prices convened under the leadership of the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, to evaluate the petroleum supply landscape and market dynamics following a recent adjustment in petrol prices. The session aimed to ensure uninterrupted fuel supply, uphold market discipline, and fortify oversight mechanisms along the supply chain.
According to Press Information Department, the committee conducted an extensive assessment of petroleum stock levels, import strategies, and refinery operations. It was reported that diesel stocks are sufficient for approximately 25 days, petrol inventory meets current demand, and crude oil reserves cover around 12 days, bolstered by upcoming shipments and planned imports. The Petroleum Division assured the committee that future import arrangements are proceeding as planned through both commercial and government-to-government channels, with refineries maintaining optimal operations to efficiently convert crude oil into refined products.
The committee highlighted the significance of a reliable energy supply for key sectors, such as agriculture, transportation, and industry, underscoring its role in sustaining economic activities and stabilizing prices. In response to recent price fluctuations, the committee stressed the need for continuous vigilance to prevent hoarding and speculation, ensuring product availability. They emphasized monitoring demand patterns to support balanced supply management and addressing market irregularities within the regulatory framework.
Discussions also covered the gas supply situation, focusing on the stock positions of SNGPL and SSGC, and managing gas distribution between domestic and power sectors. A data-driven approach was recommended for optimizing resource utilization, especially with seasonal demand and increased LPG reliance.
The committee prioritized enhancing monitoring through OGRA’s digital dashboard, which offers real-time data on stock levels and supply conditions. The Finance Minister underscored the importance of timely data sharing to maximize the dashboard’s utility. OGRA was tasked with ensuring data reporting compliance, boosting digitization efforts, and maintaining coordination with Oil Marketing Companies. Joint teams will be deployed to selected PSO petrol pumps in Islamabad to improve data entry and stock transparency, reinforcing oversight and accountability.
The Finance Minister reiterated the necessity for proactive coordination and effective monitoring to maintain market stability, emphasizing uninterrupted fuel availability, transparency, and consumer protection as top priorities. The meeting included participation from several federal ministers and senior officials from relevant ministries and regulatory authorities.