Federal Petroleum Minister Ali Pervaiz Malik has warned about a possible sharp increase in petrol prices.
He said petrol could reach Rs. 1,000 per litre if a shortage develops in Pakistan.
The minister made the remarks while speaking to media representatives in Lahore on September 20.
He clarified that the country currently does not face a petrol shortage. However, he warned that limited supplies could push prices significantly higher.
The Federal Petroleum Minister also discussed the recent increase in global oil prices.
According to Malik, international oil prices have increased by around 80 percent. He said prices have also risen in Europe and the United States.
Pakistan has passed on only around half of the international increase to local consumers, he said.
The Federal Petroleum Minister said Prime Minister Shehbaz Sharif had acted responsibly. He said the government had tried to limit the impact on consumers.
The government is also focusing on maintaining fuel supplies across the country. Earlier, officials briefed stakeholders about measures to ensure uninterrupted fuel availability.
Malik also addressed concerns about gas supplies during the upcoming winter season.
He said the government would take steps to prevent a gas shortage. He added that Pakistan could spend $100 million on gas imports if required.
This would be significantly higher than the $3 million figure mentioned by the minister.
The Federal Petroleum Minister also shared details about fuel-related tokens. He said tokens worth Rs. 180 million were issued in a single day.
The government has also introduced targeted fuel relief for certain consumers. The scheme covers motorcycles, rickshaws and cars up to 800cc.
Under the approved scheme, eligible two- and three-wheelers receive Rs. 500 per week. Eligible cars receive Rs. 1,000 for ten days.
The government has allocated Rs. 75 billion for the fuel relief scheme. The program is restricted to non-commercial users.
Malik also provided an update about domestic oil exploration.
He said work had started on oil wells and indicated that exploration would continue. The government expects potential oil discoveries by October, according to his remarks.
Domestic discoveries could help strengthen Pakistan’s future energy supply. However, any impact would depend on the quantity and commercial viability of discovered reserves.
The minister also urged political groups to avoid politicizing difficulties faced by citizens.
He said the government would continue working to maintain fuel availability and manage energy-related pressures.
The warning about Rs. 1,000 petrol is linked to a possible shortage. It does not represent the current petrol price.
Pakistan is currently dealing with higher international energy costs and supply concerns. The government is using several measures to manage these pressures.
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The Federal Petroleum Minister has also emphasized the need for stable and uninterrupted energy supplies.
