Malik hints at fuel relief as PM panel reviews petroleum pricing

• Petroleum Minister says PM-formed high-level committee overseeing transparent fuel price mechanism

• Says govt committed to passing on every possible benefit without breaching international obligations or favouring any sector

• Stresses consumers' interests remain top priority under PM Shehbaz's directives

• Urges public to track international Platts prices as govt closely monitors global oil markets

  ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik on Saturday said the government remained committed to ensuring fair and transparent petroleum pricing without favouring any sector or placing an undue burden on consumers.

“A high-level committee constituted on the directives of Prime Minister Shehbaz Sharif would oversee the pricing mechanism, with positive news for the public expected in the coming days,” Minister Malik claimed.

Speaking to a media outlet, the petroleum minister said the prime minister's foremost priority was protecting consumer rights, and the government was making every effort to provide maximum possible relief while remaining within the framework of international commitments.

He said a high-level committee had been established on the prime minister's directives to ensure transparency in petroleum price determination, expressing optimism that the public would hear encouraging news in the coming days.

Malik said the government was closely monitoring developments in international oil markets and urged the public to review this week's international Platts benchmark prices for petrol and high-speed diesel (HSD), stressing that pricing decisions were being made on a fair, transparent and objective basis.

The minister reiterated that the government was neither favouring any sector nor shifting an undue financial burden onto consumers, adding that every available benefit would continue to be passed on to the public while honouring Pakistan's international obligations.

Highlighting the government's performance, he said that under the leadership of Prime Minister Shehbaz Sharif, petrol prices had so far been reduced by Rs155 per litre and diesel prices by Rs200 per litre, reflecting the government's sustained efforts to provide relief to consumers.

Malik further said international Platts benchmark prices for petrol and high-speed diesel during the current week reflected fluctuations in global markets. Despite challenging international conditions, including war-related uncertainties, he said Pakistan's fuel supply had remained stable without any shortages.

He said the public could clearly see that petroleum prices were being determined through a fair and transparent process, reiterating that the government was continuously working to reduce the financial burden on citizens in line with the prime minister's directives.

The minister reaffirmed the government's commitment to maintaining a fair, transparent and responsible petroleum pricing mechanism while continuing efforts to safeguard consumer interests and provide relief in accordance with international market conditions and the prime minister's vision.