Pakistan May Import Cheaper Oil and Gas from Iran, Says Minister

Pakistan is considering importing cheaper oil and gas from Iran as part of efforts to reduce energy costs and provide relief to consumers, Federal Petroleum Minister Ali Pervaiz Malik has said.

The petroleum minister told the media that the government was considering buying cheap oil and gas from neighbor Iran. The decision could be helpful to reduce the energy import bill for Pakistan and relieve pressure on the local fuel prices.

Ali Pervaiz Malik also stated that the government would cut petrol and diesel prices if global oil prices fall further. He said, however, that the prices of fuels in Pakistan have not fallen to the pre-conflict situation in the region.

The minister pointed to the government’s support measures for financial relief for consumers, saying that Rs130 billion subsidies had awarded to consumers. He stated that the government had already passed on fuel price cut to the public ranging from Rs160 per litre.

The minister strongly refuted the claims after reports suggested that recent policy decisions made for the benefit of the oil marketing companies. The government is not interested in who makes money or loses money, and all decisions are taken on merit, he said.

Ali Pervaiz Malik also added that Prime Minister Shehbaz Sharif has assure that all government decisions will taken on merit and transparency. He added that he stands by his position and has already shared all relevant facts on social media.

The minister’s remarks come as Pakistan continues to explore options to improve energy security, reduce fuel import costs, and protect consumers from fluctuations in global oil prices.