Says LNG imports from Qatar have been halted but demand will be met through local gas
\n Islamabad
\nFinance Minister Muhammad Aurangzeb said on Wednesday that Pakistan has sufficient petroleum supplies to meet domestic demand for nearly a month.
\n\u201cThere is no shortage of petroleum products. We have a 28-day cover available, while LPG is available for a further 15 days. LNG imports from Qatar have been halted, but demand will be met through local gas,\u201d Aurangzeb said while addressing a meeting of the Senate Standing Committee on Finance.
\nThe statement came in the wake of rumours circulating about a shortage of oil in the country amid the escalating Middle East crisis, which resulted in the closure of the Strait of Hormuz and attacks on Saudi oil refineries.
\nThe meeting was chaired by Senator Saleem Mandviwalla, where members were briefed on the country\u2019s economic situation. It was attended by the finance minister, the governor of the State Bank of Pakistan (SBP), and senior officials from the Ministry of Finance.
\nAurangzeb said Prime Minister Shehbaz Sharif had formed a special committee to monitor petroleum supplies on a daily basis.
\n\u201cThe committee is working on a daily basis and key decisions will be taken immediately. Petroleum reserves are available until the end of March. Supplies will be regulated, and measures will also be taken to conserve energy. If regional tensions persist, we will take steps to deal with their impact,\u201d he said.
\nHe warned that continued regional tensions could have economic implications, but said the government was prepared to respond if needed.
\nIn an interaction with the media in Parliament, he said the availability of petroleum products was being reviewed on a daily basis.
\n\u201cThe prices of petroleum products are being reviewed daily. The availability of petroleum products for the month of March is present. If tensions in the region continue, measures will have to be taken,\u201d he said, adding that an energy conservation campaign would have to be launched.<\/p>\n","protected":false},"excerpt":{"rendered":"
Says LNG imports from Qatar have been halted but demand will be met through local gas Islamabad Finance Minister Muhammad Aurangzeb said on Wednesday that Pakistan has sufficient petroleum supplies to meet domestic demand for nearly a month. \u201cThere is no shortage of petroleum products. We have a 28-day cover available, while LPG is available […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-534910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n