ISLAMABAD
\nFederal 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, \u201cDespite global economic pressures, Pakistan\u2019s petrol and diesel prices are the lowest in the region compared to India and Bangladesh.
\nWe are committed to protecting the public from rising international energy costs. \u201dHe assured that every rupee collected through the Petroleum Development Levy (PDL) would be used to improve the country\u2019s energy supply. On the government\u2019s 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.
\n\u201cWe are working closely with them to align our policies while ensuring public relief\u201d 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.
\n\u201cI\u2019ve already met with Oil Marketing Companies (OMCs) and refineries. I will soon engage with petroleum dealers to address their concerns,\u201d he added.
\nHe highlighted the government\u2019s broader strategy for an affordable electricity supply, including targeted subsidies for low-income households and investments in renewable energy.
\n\u201cOur focus is on sustainable energy reforms to ensure long-term economic growth and protect vulnerable communities,\u201d 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
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, \u201cDespite global economic pressures, Pakistan\u2019s petrol and diesel prices are the lowest in the region compared to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-467568","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n