Dar chairs meeting on petroleum reserves, global oil price surge

Deputy Prime Minister and Foreign Minister Ishaq Dar chaired a high-level meeting to review the country’s petroleum product reserves and the impact of rising global oil prices, officials said on Friday.

The meeting examined recommendations presented by the Petroleum Division regarding possible adjustments in the prices of petroleum products.

Participants discussed the current international oil market situation and its potential implications for Pakistan. Officials said the final decision regarding the revised prices of petroleum products will come into effect from the intervening night of March 6 and 7.

The meeting was attended by the federal ministers for finance, petroleum and commerce, along with other senior government officials.

Senior representatives from the Oil and Gas Regulatory Authority (OGRA), Pak-Arab Refinery Company and other relevant institutions also participated in the meeting to provide technical input on the petroleum supply and pricing situation.