KARACHI: Federal Minister for Petroleum Ali Pervez Malik said on Tuesday that the government is fully aware of the current Middle East situation and its implications. “We’re taking measures to address the situation,” he said while speaking on Aaj News programme ‘News Insight with Aamir Zia’.
Ali Pervez Malik emphasised that the duration of the conflict is uncertain, and Pakistan will need assistance from its allies to cope with additional economic pressures. He highlighted government efforts to navigate the challenges posed by regional tensions.
The federal minister’s comments come as tensions escalate in the Middle East following US and Israel’s attacks on Iran, with concerns about potential disruptions to oil supplies and regional stability. Malik noted many countries are now part of the Middle East conflict, and it’s unclear how long the situation will last. Therefore, as a responsible government, we must prepare for all scenarios within our financial means, whether it’s external accounts, energy stockpiles, or savings. We should operationalise every element.
The federal minister also appealed to Pakistanis to conserve fuel, including petrol, and remain vigilant. “The energy market situation is also concerning,” he maintained. While mentioning that the government has made arrangements and there’s sufficient petrol and diesel stock in the country, the minister warned that rising energy prices could increase inflation in Pakistan.
“Pakistan imports LNG from Qatar Energy, and now that the Strait of Hormuz is blocked, Qatar has suspended production. Our LPG imports from Iran may also be affected,” he said. “We need to be cautious,” Malik urged, emphasizing preparedness for potential challenges ahead.
KARACHI: Federal Minister for Petroleum Ali Pervez Malik said on Tuesday that the government is fully aware of the current Middle East situation and its implications. “We’re taking measures to address the situation,” he said while speaking on Aaj News programme ‘News Insight with Aamir Zia’.
Ali Pervez Malik emphasised that the duration of the conflict is uncertain, and Pakistan will need assistance from its allies to cope with additional economic pressures. He highlighted government efforts to navigate the challenges posed by regional tensions.
The federal minister’s comments come as tensions escalate in the Middle East following US and Israel’s attacks on Iran, with concerns about potential disruptions to oil supplies and regional stability. Malik noted many countries are now part of the Middle East conflict, and it’s unclear how long the situation will last. Therefore, as a responsible government, we must prepare for all scenarios within our financial means, whether it’s external accounts, energy stockpiles, or savings. We should operationalise every element.
The federal minister also appealed to Pakistanis to conserve fuel, including petrol, and remain vigilant. “The energy market situation is also concerning,” he maintained. While mentioning that the government has made arrangements and there’s sufficient petrol and diesel stock in the country, the minister warned that rising energy prices could increase inflation in Pakistan.
“Pakistan imports LNG from Qatar Energy, and now that the Strait of Hormuz is blocked, Qatar has suspended production. Our LPG imports from Iran may also be affected,” he said. “We need to be cautious,” Malik urged, emphasizing preparedness for potential challenges ahead.
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