ISLAMABAD: Petroleum Minister Ali Pervez Malik has said that the closure of the Strait of Hormuz has affected oil supply, and it is necessary to prepare storage and infrastructure for energy security.
Addressing the ceremony, Ali Pervez Malik said that for the first time in the history of the world, Dubai crude oil reached $170 per barrel, which pushed diesel and petrol prices to an all-time low.
He said that additional payments had to be made due to the increase in insurance and security costs, the gas sector is facing a major circular challenge, we have prevented the circular debt from increasing.
The resolution of global disputes is very important to keep petrol prices under constant control, Ali Pervez Malik
He added that in the tense situation in the region, the Prime Minister and the Field Marshal played an important role in providing alternative supplies, Qatar and Saudi Arabia cooperated in the current situation.
The Federal Minister said that Saudi Arabia provided petroleum products to Pakistan from Yanbu, imported petroleum products worth $2 billion in two months, we will have to get rid of imported fuel.
