Need for diversifying oil supply sources stressed

ISLAMABAD: The Cabinet Committee constituted to monitor petrol prices emphasised on Monday the importance of further diversifying sources of supply to enhance resilience of the national energy supply chain.

The Committee met on Monday under the chairmanship of the Federal Minister for Finance and Revenue, Muhammad Aurangzeb, as part of the Committee’s ongoing daily review of developments in the energy sector in light of evolving regional conditions.

The Committee undertook a comprehensive review of petroleum product stock positions across the country and was briefed in detail on the current national inventory of crude oil and refined petroleum products, ongoing import arrangements, and supply chain logistics.

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The Committee was informed that the country remains adequately positioned in terms of fuel availability, with March requirements fully secured. It was further noted that, based on current cargo planning and supply arrangements, coverage is available up to mid-April, and efforts are under way to extend coverage further towards the end of April. Overall stock levels and scheduled imports indicate that the country maintains comfortable inventories of crude oil and key petroleum products for March, with sufficient planning in place to ensure continued availability during April.

The meeting also reviewed procurement patterns and maritime logistics in the context of ongoing regional developments. In this regard, the Committee emphasised the importance of further diversifying sources of supply to enhance the resilience of the national energy supply chain.

The meeting was informed that procurement strategies are already moving towards greater diversification, with efforts under way to broaden sourcing from the international market and reduce reliance on any single corridor, thereby strengthening Pakistan’s overall energy security.

The Finance Minister emphasised that the government remains fully focused on ensuring the uninterrupted availability of petroleum products across the country. He noted that the current stock position and supply outlook remain stable and that, based on the reports presented, there is no basis for panic buying or unnecessary stockpiling of fuel.

The meeting directed the relevant authorities, in coordination with OGRA and the provincial governments, to closely monitor stock levels and market activity to check any incidence of hoarding. It was emphasised that any attempts to create artificial shortages or disrupt normal supply would be dealt with strictly in accordance with the law.

Reaffirming the government’s commitment to maintaining stability in the energy market, the Finance Minister directed all concerned ministries, regulators, and agencies to maintain close coordination and continue rigorous monitoring of stock levels and supply flows so that the fuel supply chain remains smooth and public confidence is maintained through timely and accurate information.

The Committee will continue to meet on a daily basis to review petroleum stocks, import flows, market conditions, and supply chain developments to ensure the uninterrupted availability of fuel across the country.

The meeting was attended by Federal Minister for Petroleum Ali Pervaiz Malik, Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry and Governor of the State Bank of Pakistan, and federal secretaries and senior officials from the concerned ministries, divisions, and regulatory authorities.

Copyright Business Recorder, 2026