KARACHI: Pakistan on Saturday reviewed national fuel reserves and import arrangements amid volatility in global energy markets caused by the escalating war in Iran, with authorities saying petroleum supplies remain stable despite disruptions to regional shipping routes.
The assessment came during a virtual meeting of the government’s committee monitoring petrol prices, chaired by Finance Minister Muhammad Aurangzeb, as Islamabad steps up oversight of the energy sector following rising oil prices and uncertainty in global supply chains.
Global oil markets have been jolted by an intensifying conflict involving Iran following joint US-Israeli strikes on Iranian targets late last month and Tehran’s subsequent retaliatory attacks across the region.
The confrontation has disrupted shipping through the Strait of Hormuz, a critical chokepoint for global oil flows, sending crude prices higher and raising concerns over fuel availability for import-dependent countries such as Pakistan.
“A meeting of the Committee to Monitor Petrol Prices was held virtually today,” Pakistan’s finance division said in a statement.
