Petroleum Minister Ali Pervaiz Malik has warned that prolonged conflict could cause oil prices to double and disrupt supply chains.
Speaking on a private TV programme, he said Pakistan is importing oil from the United States, Africa, Libya, and Nigeria. However, new shipments will take time to arrive. He stressed the importance of monitoring supply carefully to prevent shortages.
Meanwhile, Finance Minister Muhammad Aurangzeb told the National Assembly that Pakistan has managed global oil supply challenges effectively. He said the government announced subsidies and is actively implementing them to ease the burden on citizens.
The finance minister added that imports and exports have not been significantly affected so far. Pakistan continues to play a diplomatic role to secure energy supplies. However, he acknowledged that the country’s energy infrastructure is under pressure.
From March 14 to April 4, subsidies worth Rs129 billion were provided on petroleum products. Targeted support is also being given to small farmers to ensure agricultural operations continue without interruption.
Sources say that despite subsidies, austerity measures, and rising oil prices, demand for petroleum products remains high. Authorities are now considering rationing as a precautionary measure in the second phase.
Officials warned that if the war prolongs, the government may need to conserve oil reserves. This could limit fuel availability for consumers and businesses. Analysts say global market instability is directly affecting domestic oil prices and could impact Pakistan’s economy if tensions continue.
In the coming weeks, government monitoring of supply chains, subsidies, and strategic imports will be crucial to stabilize oil prices and ensure sufficient energy for households and industries.
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