Ali Pervez Malik stated that the federal government cannot continue providing unconditional subsidies on expensive petrol. He asserted that the cost of the global oil shock amounts to thousands of billions of rupees.
According to Malik, the country cannot manage an oil storm using unconditional subsidies because the financial burden proves too large. The Minister advised that the government must first arrange necessary resources before increasing expenditure.
Spending without securing requisite funds, Malik warned, could create a situation comparable to that experienced in 2022. Furthermore, Malik confirmed that petrol prices in Pakistan are linked to international oil prices and are not subject to his personal discretion.
He added that a downturn in worldwide oil prices would consequently be reflected in domestic pricing structures. Regarding upcoming engagements, the Minister is scheduled to visit Saudi Arabia next week.
During a briefing, he presented issues anticipated for December, January, and February to Prime Minister Shehbaz Sharif. Measures required before the winter season were also presented to the Prime Minister.
The government intends to address the expected gas shortage by arranging timely supplies of LPG.
