ISLAMABAD: The Federal Minister for Petroleum Ali Pervaiz Malik has announced that petroleum product prices are expected to begin declining soon.
The announcement came during a meeting between the Federal Minister and a delegation of the Oil Tankers Association, where both sides held detailed discussions on a range of issues concerning the country’s petroleum transportation sector.
The meeting focused on the supply and distribution of petroleum products, challenges faced by oil tanker operators, freight charges, transport quotas, and other operational matters.
During the meeting, representatives of the Oil Tankers Association briefed the minister on the industry’s concerns and highlighted several operational challenges affecting transporters.
In this sense, Ali Pervaiz Malik assured the delegation of the government’s full support in resolving their issues and emphasized its commitment to maintaining a stable petroleum supply chain across the country.
The minister shared what he described as encouraging news for the public, stating that petroleum product prices are likely to decrease in the near future.
He explained that improving international conditions are expected to have a positive impact on the domestic petroleum market, ultimately providing financial relief to consumers.
Ali Pervaiz Malik also revealed that Pakistani oil tankers previously stranded near the Bab al-Mandab Strait have now safely resumed their journey.
He noted that this development has significantly reduced concerns over potential disruptions in the supply of petroleum products, strengthening confidence in the country’s fuel distribution network.
The minister announced that the government has established a special committee to review matters related to oil tanker freight charges and transport quotas.
The committee will consult all relevant stakeholders before presenting its recommendations to the government for consideration.
The petroleum minister reasserted that ensuring the uninterrupted supply of petroleum products remains a key priority for the government.
He added that authorities are actively working to address the concerns of transporters while implementing practical measures aimed at improving the efficiency of the petroleum supply chain and providing maximum possible relief to the public.
