Govt working to provide relief to consumers, says petroleum minister

ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik on Saturday said the government is working to provide relief to consumers while honouring its international commitments, expressing optimism that the public could receive good news on petroleum prices in the coming days.

Speaking to a local television channel, the minister said Prime Minister Shehbaz Sharif has made consumer protection a top priority and has constituted a high-level committee to ensure transparency in the mechanism for determining petroleum prices.

Malik said the committee is reviewing the pricing formula to ensure fairness and accountability, adding that the government is closely monitoring international oil market trends before taking any decision.

He urged the public to examine this week's international Platts benchmark prices for petrol and high-speed diesel (HSD), stressing that fuel prices are being determined on a transparent and equitable basis in line with global market movements.

The minister said the government was neither favouring any particular sector nor placing an undue burden on consumers, reaffirming its commitment to passing on any available benefit to the public while remaining within the framework of international obligations.

Highlighting the government's performance, Malik said that under the leadership of Prime Minister Shehbaz Sharif, petrol prices have so far been reduced by Rs155 per litre and high-speed diesel prices by Rs200 per litre, reflecting the administration's continued efforts to provide relief to the public.

He noted that international benchmark prices for petroleum products have remained volatile due to uncertainties in global markets, including conflicts affecting energy supplies. Despite these challenges, he said, Pakistan has maintained a stable fuel supply without facing shortages.

Malik reiterated that the government remains committed to ensuring fair, transparent and responsible petroleum pricing, adding that every effort is being made to reduce the financial burden on citizens in accordance with international market conditions and the Prime Minister's directives.