Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a high-level consultative meeting on the petroleum products situation today at the Finance Division, in line with the directions of the Honourable President and the Honourable Prime Minister of Pakistan.
The meeting commenced with a detailed presentation by the Petroleum Division on the current status of petroleum products’ availability in the country. It was noted with satisfaction that the fuel supply situation remains stable and adequate across the country.
The Ministry of Information Technology and Telecommunication also gave a comprehensive presentation on proposed technological solutions to facilitate a targeted subsidy mechanism for petroleum products, with a focus on transparency and efficient delivery.
The provincial leadership shared their views on the prevailing situation and policy options. Chief Minister Sindh, Syed Murad Ali Shah, appreciated the efforts of the federal government in maintaining uninterrupted fuel availability, while emphasizing the importance of behavioral measures to promote fuel conservation.
Punjab Senior Minister Marriyum Aurangzeb, representing the Government of Punjab, emphasized the need to develop multiple policy scenarios in response to the evolving petroleum price situation. She stressed that any reduction in international petroleum prices should be effectively passed on to consumers and highlighted the importance of incorporating behavioral aspects into crisis management to ensure more sustainable consumption patterns.
Khyber Pakhtunkhwa Finance Minister Muzzammil Aslam lauded the efforts of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, and Federal Minister for Petroleum, Mr. Ali Pervaiz Malik, for effectively managing the oil supply situation. He noted that Pakistan’s management of petroleum supplies has remained comparatively better than that of several countries in the region.
Balochistan Minister for Finance and Mines & Mineral Development, Mir Shoaib Nosherwani, also shared his views during the meeting.
The Finance Division briefed the participants on fiscal situation and noted that limited fiscal space is available, primarily confined to revenues from the petroleum levy. It was emphasized that any relief measures would need to be carefully calibrated to maintain macroeconomic stability.
In his remarks, the Finance Minister underscored that the current situation should be treated as an opportunity to undertake structural reforms rather than a constraint. He emphasized the importance of adopting data-driven decision-making, particularly in the areas of taxation and subsidy design, to ensure transparency, efficiency, and better targeting of relief.
The Finance Minister also highlighted the need to promote responsible consumption behaviour and ensure that policy responses remain fiscally prudent while maximizing relief for the public.
The participants agreed to expedite efforts to finalize a targeted subsidy framework using technological solutions, while ensuring continued coordination between the federal and provincial governments.
The meeting was attended by Chief Minister Sindh, Syed Murad Ali Shah; Punjab Senior Minister Marriyum Aurangzeb, representing the Government of Punjab; Khyber Pakhtunkhwa Finance Minister Muzzammil Aslam; Balochistan Minister for Finance and Mines & Mineral Development, Mir Shoaib Nosherwani; Chief Secretaries of all four provinces; Federal Minister for Petroleum, Mr. Ali Pervaiz Malik; Federal Minister for Information Technology and Telecommunication, Ms. Shaza Fatima Khawaja; Federal Secretaries of Finance, Petroleum, and Information Technology & Telecommunication; as well as senior officials, including the Chairman NADRA.
