LAHORE: Federal Minister for Petroleum Ali Pervaiz Malik has said Pakistan has successfully managed the energy challenges arising from the disruption around the Strait of Hormuz over the past six months, protecting its economic stability despite rising international oil and gas prices.
While talking to reporters after addressing the 29th convocation ceremony of the University of Management and Technology (UMT) here, he said the government was providing subsidised petrol at pre-crisis prices to more than 12 to 13 million deserving people through a targeted relief programme instead of a blanket subsidy.
He said the targeted subsidy had reduced the government’s financial burden to around Rs25 billion per month, compared with the substantial foreign exchange losses faced by neighbouring countries due to broad-based fuel subsidies.
The minister said the government had maintained economic stability by adopting responsible decisions and avoiding policies that could put pressure on foreign exchange reserves. He added that fuel pricing had been made transparent, enabling consumers to benefit automatically when international prices declined.
Ali Pervaiz Malik said the regional situation remained uncertain and the country needed to prepare for prolonged disruptions rather than expect an immediate return to normalcy.
Referring to winter energy requirements, he said the government was committed to ensuring gas availability during three daily meal timings through better utilisation of indigenous resources. He added that arrangements were also being made to import sufficient LPG through sea routes to meet demand during December and January at reasonable prices.
He urged people to conserve energy during winter by avoiding inefficient gas heaters, wearing warm clothes and switching off geysers when not in use, saying individual efforts could help save precious foreign exchange.
The minister said the energy crisis had highlighted the need for long-term planning, modern infrastructure and technological solutions, stressing that engineers, data scientists, supply chain professionals and economists had an important role in strengthening the country’s energy security.
He said future professionals must contribute towards making essential services more reliable, affordable and resilient, adding that preparedness, responsible decision-making and policy reforms were vital to addressing future challenges.
PRESS RELEASE ADDS: University of Management and Technology (UMT) Chairman and President Ibrahim Hasan Murad has offered to provide the Punjab government with the university’s advanced artificial intelligence (AI) tutoring and career-guidance technology free of charge, enabling students and graduates across the province to access round-the-clock educational support and career counselling. The technology could also be extended to other universities.
Addressing UMT’s 29th Convocation, Ibrahim Murad said supporting deserving students alongside providing quality education remained a university priority. He said 64 percent of UMT students were receiving scholarships in one form or another, while the ILM Scholarship Fund had reached Rs20 billion. Under the Honhaar Scholarship Programme, UMT’s estimated contribution for 920 students stood at Rs1.13 billion over the duration of their degrees.
He further announced an additional Rs100 million in scholarships for students from Balochistan, noting that UMT had provided scholarships worth Rs572 million to Balochistan students over the past ten years.
The 29th Convocation was held in four sessions and saw 4,363 students receive degrees, including 3,570 bachelor’s, 21 master’s, 723 MS/MPhil and 49 PhD degrees. Graduates were awarded 62 gold and 68 silver medals for outstanding academic performance. The university also presented 16 Academic Excellence Gold Awards, 13 Certificates of Excellence, five Certificates of Merit and six Research Publication Awards for MS/MPhil students. PhD scholars, gold medalists and students demonstrating excellence in academic, research and other fields received special honours.
Addressing the convocation, Balochistan Chief Minister Mir Sarfraz Bugti said the perception of hatred against Punjab in Balochistan was contrary to reality, stressing that the people of Punjab had made sacrifices for Balochistan beyond their share. He said the people of Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan shared mutual affection and that the Baloch were not enemies of Punjabis or Sindhis.
“Terrorists target innocent Pakistanis; terrorism has no religion, nationality or province,” he said, adding that such incidents should not be attributed to any particular ethnic group or province. He said the shared identity of Pakistanis was greater than their regional identities and cited Article 5 of the Constitution, which requires loyalty to the state from every citizen.
The chief minister said Punjab had demonstrated inter-provincial solidarity by providing Balochistan an additional share under the National Finance Commission (NFC) Award. He described Balochistan’s traditions as rooted in hospitality and protection of guests, adding that people coming from Punjab to Balochistan for employment were brothers whose dignity and safety were valued.
He said violence and development could not go hand in hand and that the closure of development projects primarily harmed ordinary people in Balochistan. Urging young people to choose education and development over violence, he said a ten-year livelihood programme had been launched for every district of Balochistan, while interest-free loans were being provided to youth in collaboration with Akhuwat Pakistan and the National Rural Support Programme (NRSP).
Bugti said students were also being offered opportunities to study at international universities, including Harvard and Oxford. Appreciating UMT’s scholarship support for Balochistan students, he said the university provided scholarships to more than 80 percent of its students. He urged young people to guard against negative social media propaganda and said inter-provincial harmony and mutual trust were essential for Pakistan’s progress.
Copyright Business Recorder, 2026