ISLAMABAD:Owing to the potential closure of the Strait of Hormuz, Prime Minister Shehbaz Sharif has constituted a high-level committee to monitor the country’s petroleum supply and stock situation on a daily basis.
In light of emerging regional developments, this high-level committee is mandated to review the petroleum stock levels on a daily basis and issues necessary directions to ensure uninterrupted supply across the country.
As per available details, the committee is headed by the Federal Minister for Finance and includes Ali Pervaiz Malik himself, along with the Chairman of OGRA, Secretary Petroleum, and other senior officials.
Ali Pervaiz Malik said that the committee reviews petroleum stock levels on a daily basis and issues necessary directions to ensure uninterrupted supply across the country. He stated that a review meeting was held today at the Ministry of Petroleum to assess the current situation and evaluate preparedness measures.
The Minister confirmed that Pakistan currently holds sufficient reserves of petroleum products and reassured the public that there is no immediate threat of shortage. He added that OGRA is actively monitoring stock levels at refineries and oil marketing companies to ensure stable supply operations.
Addressing regional security concerns, Ali Pervaiz Malik revealed that the government has also reviewed contingency plans in case of any disruption to global supply routes, including the potential closure of the Strait of Hormuz. He stressed that the government is committed to keeping the petroleum supply chain fully functional and will go to all possible lengths to prevent any disruptions.
He further shared that Prime Minister Shehbaz Sharif is expected to personally chair a review meeting in the coming days to oversee the overall situation and preparedness of relevant institutions.
It is worth noting that following U.S. strikes on Iranian nuclear facilities, Iran’s Parliament yesterday approved a motion to close the Strait of Hormuz.
Reportedly, approximately 21 million barrels of oil are transported daily through the Strait of Hormuz from Saudi Arabia, the United Arab Emirates, Kuwait, and Iran to various countries, including Pakistan, China, Japan, South Korea, Europe, North America, and others around the world.
