ISLAMABAD
Federal Petroleum Minister Ali Pervez Malik on Monday said that the government is taking decisive steps to stabilize energy prices and provide relief to the public as summer approaches. Talking to a media news channel, he said, “Despite global economic pressures, Pakistan’s petrol and diesel prices are the lowest in the region compared to India and Bangladesh.
We are committed to protecting the public from rising international energy costs. ”He assured that every rupee collected through the Petroleum Development Levy (PDL) would be used to improve the country’s energy supply. On the government’s engagement with the International Monetary Fund (IMF), he said that the recent visit of the IMF delegation was successful, and a Staff-Level Agreement (SLA) is expected in the coming days.
“We are working closely with them to align our policies while ensuring public relief” he added. Addressing concerns over the Rs. 600 billion revenue shortfall, he expressed confidence that economic reforms and rising tax revenue from inflation would bridge the gap. Minister also mentioned plans to deregulate petroleum prices to foster competition among oil companies and lower consumer costs.
“I’ve already met with Oil Marketing Companies (OMCs) and refineries. I will soon engage with petroleum dealers to address their concerns,” he added.
He highlighted the government’s broader strategy for an affordable electricity supply, including targeted subsidies for low-income households and investments in renewable energy.
“Our focus is on sustainable energy reforms to ensure long-term economic growth and protect vulnerable communities,” he said.He assured that all revenue from energy-related taxes would be reinvested to strengthen the energy sector and provide tangible benefits to the public.
