Petroleum Prices Expected to Decline Soon, Says Federal Minister Ali Pervaiz Malik

Ali Pervaiz Malik, Federal Minister for Petroleum met a delegation of the Oil Tankers Association, which explained him on the challenges facing the sector. During the meeting, the minister assured representatives that the government was actively working to address their concerns and improve conditions for the oil transportation industry.

Speaking on petroleum prices, Ali Pervaiz Malik said there was good news for consumers, revealing that ships carrying Pakistan’s fuel supplies, which had been stranded near the Bab-el-Mandeb Strait, had safely resumed their journey. He expressed confidence that petroleum product prices would begin to decline in the near future as supply conditions improved.

The minister also announced that the government had formed a committee to address issues related to oil tanker freight rates and other operational matters. He said the committee would work with stakeholders to develop practical solutions aimed at ensuring the smooth transportation of petroleum products across the country.