ISLAMABAD: The Cabinet Committee to monitor petrol prices met today under the chairmanship of the Finance Minister to review the petroleum supply situation and market conditions following the recent price adjustment.
The meeting confirmed that current petrol and diesel stocks are enough to satisfy present demand, but no price reduction plans were shared. The meeting dedicated itself to three main objectives, which included establishing continuous fuel delivery systems and enforcing market regulations while developing new methods to track all parts of the fuel distribution process.
The Committee performed an extensive evaluation of the petroleum stock situation along with the refinery operations and the planned import activities.
Diesel stocks currently provide approximately 25 days of cover, petrol stocks are sufficient for current consumption, and crude oil stocks cover around 12 days, supported by incoming cargoes and scheduled imports.
The refineries maintain optimal performance to convert crude oil into finished products, while the import operations for the upcoming weeks progress through both commercial and government-to-government procurement methods.
The Committee identified dependable energy systems as vital support systems for agricultural operations, fertilizer manufacturing, transportation networks, and industrial processes because these systems maintained economic growth and price stability.
The Committee required supply chain organizations to remain alert because recent price changes might lead to hoarding activities and speculation, which would cause product shortages.
The system required demand tracking at local levels because this information was crucial for maintaining proper supply control. The authorities planned to implement stricter control measures against both unlicensed storage activities and market behavior violations.
