Government Ensures Steady Petroleum Supply Amid Regional Challenges: Aurangzeb

Islamabad: Finance Minister Muhammad Aurangzeb announced that the government has ensured the continued availability of petroleum products across the country, despite the challenging regional situation. He made this statement during a televised address concerning the nation’s economic status, where he was joined by Petroleum Minister Ali Pervaiz Malik.

According to Radio Pakistan, the Finance Minister highlighted that the country’s economic situation remains stable with a projected GDP growth of four percent this year, an increase from last year’s 3.1 percent. He also noted a 14 percent rise in exports, while remittances were recorded at 3.8 billion dollars in March and 3.5 billion dollars in April. The Roshan Digital Accounts saw an inflow of 260 million dollars in March and increased to 320 million dollars in April. Meanwhile, the import bill rose by over one billion dollars between March and April.

Aurangzeb emphasized the efforts of Prime Minister Shehbaz Sharif, Deputy Prime Minister Muhammad Ishaq Dar, and Field Marshal Syed Asim Munir in working persistently towards restoring regional peace, conveying his best wishes for their endeavors.

Petroleum Minister Ali Pervaiz Malik, in his remarks, reaffirmed the government’s dedication to offering maximum relief to the public in the forthcoming budget. He commended Pakistan’s ability to maintain fuel supplies amid the prevailing conditions and acknowledged the support of the Saudi government in ensuring crude oil availability. Additional gratitude was extended to Qatar, the United Arab Emirates, and Iran for their cooperation.

Malik further mentioned the government’s provision of subsidies worth billions of rupees to support farmers and transporters, as well as subsidies on petroleum products. He revealed plans to purchase low-cost LNG from friendly nations to prevent public hardships due to rising electricity demands during the summer.