Prime Minister Shehbaz Sharif has emphasized the need for stringent measures to combat the smuggling of petrol in Pakistan. During a review meeting focused on the country’s economic situation and the digitisation of the Federal Board of Revenue (FBR), the Prime Minister highlighted the success of the crackdown on fuel smuggling, which has contributed to a significant increase in petrol and diesel sales. In November 2024, petroleum sales reached 1.58 million tonnes, the highest in 25 months, showing a positive development for the energy sector. This increase, amounting to a 15% rise in petroleum sales compared to the previous year, signals a recovery in the energy market.
PM Sharif directed the implementation of more rigorous measures against petrol smuggling and called for the completion of video analytics installation in the cement industry as part of broader efforts for economic reforms.
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He also underscored the importance of FBR’s digitisation, noting that its positive impacts on the economy are already becoming evident. He expressed confidence that the government’s timely and effective policies are beginning to yield positive results for the country’s economy.
On a related note, Federal Minister for Petroleum Musadik Malik clarified the situation regarding Pakistan’s oil imports from Russia. He denied reports suggesting a new agreement for crude oil procurement from Russia, explaining that while initial efforts to purchase oil through a public sector company were made, no further cargo orders have been placed after the first shipment. Malik confirmed that talks with Russia on crude oil imports are ongoing, but no new deals have been signed beyond previous agreements. He also mentioned that Russia is exploring the possibility of offshore oil and gas exploration in Pakistan and that any future agreements would be made with national interests in mind.
