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I only implement global fuel prices, says Petroleum Minister Ali Pervaiz Malik

Animated editorial illustration for: I only implement global fuel prices, says Petroleum Minister Ali Pervaiz Malik
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At a glance

  • Petroleum Minister says he only implements daily fuel price changes from global markets.
  • Government has restarted offshore oil and gas exploration after 20 years.
  • Minister claims flow of new circular debt is near zero without tariff hikes.

Story so far

Pakistan's government is undertaking reforms in the energy sector amid ongoing challenges with fuel pricing and circular debt. Petroleum Minister Ali Pervaiz Malik has stated that domestic fuel prices are directly linked to daily global market changes. The government is also working with the IMF on managing legacy circular debt and is restarting offshore exploration to enhance long-term energy security.

Latest development

Petroleum Minister Ali Pervaiz Malik has clarified that he only implements daily fuel price adjustments based on international market fluctuations, rather than setting them himself. Speaking at an energy conference, he also announced that offshore oil and gas exploration has resumed after a 20-year hiatus.

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