Pakistan Petroleum Minister Warns of Potential Petrol Price Spikes

Ali Pervaiz Malik, the Federal Petroleum Minister, warned in Lahore that petrol prices in Pakistan could reach Rs. 1,000 per litre if a fuel shortage occurs. He noted that while no shortage currently exists, international oil prices have risen by 80%, though the government has passed only 50% of that increase to consumers.

Malik credited Prime Minister Shehbaz Sharif with limiting further price hikes and announced that the government is prepared to increase gas import spending from $3 million to $100 million to prevent winter shortages. He also stated that work on oil wells has begun, with discoveries expected by October.

Addressing political tensions, Malik urged the Pakistan Tehreek-e-Insaf and Jamaat-e-Islami to stop politicizing public hardships. He explicitly stated that the government "will not allow anyone to march on Islamabad."