Prime Minister Shehbaz Sharif formed a committee and held daily review meetings, ensuring reasonable oil reserves in the country. Federal Minister for Information and Broadcasting Attaullah Tarar said this at a joint press conference with Federal Minister for Petroleum Ali Pervaiz Malik.
Tarar stated that Prime Minister Shehbaz Sharif had directed the Ministry of Petroleum to avoid an oil shortage. The minister also mentioned that future oil cargoes were being arranged as informed by the Petroleum Minister.
Oil prices in Pakistan are determined according to international market prices, said Tarar. He added that significant efforts were made not to pass on additional burden to the public after the initial increase of Rs 55 in petrol price.
The Information Minister emphasized that austerity measures announced by the Prime Minister were being implemented and that they were responsible for their respective ministries. Earlier, Ali Pervaiz Malik, Federal Minister for Petroleum, said crude oil prices had increased significantly in the region over a few weeks, rising from $70 per barrel to $170 per barrel.