Pakistan forms high-level energy committee as Strait of Hormuz closure threatens oil routes

ISLAMABAD: Pakistan on Monday announced it had established a high-level cabinet committee to monitor petroleum markets and ensure uninterrupted domestic fuel supplies, as escalating conflict in the Middle East and disruption around the Strait of Hormuz rattle global energy markets.

The Finance Division said the newly constituted ‘Committee to Monitor Petrol Prices in the Wake of the Emerging Situation in the Region’ held its first meeting under Finance Minister Senator Muhammad Aurangzeb, undertaking a comprehensive review of fuel stocks, supply chains and pricing risks.

The move comes after Iran closed the Strait of Hormuz following US-Israeli strikes inside Iranian territory, raising concerns about oil shipments through the strategic waterway that carries roughly one-fifth of global oil consumption.

Pakistan relies heavily on Middle Eastern crude and petroleum products that transit through the strait.

“The Committee will operate as a strategic governance forum to continuously monitor developments and undertake structured scenario planning,” the finance ministry said in a press release. “Ensuring availability of energy supplies across the country is the Government’s primary objective and will remain the central driver of all decisions.”