Prime Minister Shehbaz Sharif has directed to pass on the benefits of declining oil prices in the global market to the people immediately.
This was stated by Minister for Petroleum Ali Pervaiz Malik, in a post on his X handle today.
The Minister for Petroleum said a high-level committee has been constituted to chalk out a transparent weekly formula to determine the prices of petroleum products. He said new formula will be prepared after detailed consultation with all stakeholders. He further said that once this formula is formulated, people would be able to understand the causes of the change in oil prices.
Ali Pervaiz Malik said despite regional tensions, oil supply chain in Pakistan was maintained uninterrupted.
The Minister said the government is reviewing the energy security framework and work is underway on several new measures to protect state interests and energy security.
Ali Pervaiz Malik thanked all the stakeholders and people of Pakistan for extending cooperation during the crisis.
