Pakistan Forms High-Level Committee to Monitor Oil Prices Amid Middle East Tensions

ISLAMABAD, March 2, 2026 – The Government of Pakistan has formed a high-level committee to closely monitor oil prices and supplies, following rising global petroleum costs amid escalating tensions in the Middle East after U.S. and Israeli attacks on Iran.

Committee Composition

The 18-member committee will be chaired by Finance Minister Muhammad Aurangzeb. Key members include the Minister for Petroleum, Minister for Power Division, Minister of State for Finance, and the Governor of the State Bank of Pakistan. Secretaries of relevant federal ministries are also part of the committee.

Responsibilities and Goals

The committee is tasked with:

• Monitoring global oil market trends and their effect on domestic petroleum prices.

• Assessing supply conditions and ensuring demand-supply balance in Pakistan.

• Recommending policy measures to prevent sudden price shocks.

• Formulating strategies to protect consumers from the impact of global oil price volatility.

• Maintaining stability in the local fuel market during regional tensions.

A notification from the Prime Minister’s Office emphasized that the committee will work proactively to ensure Pakistan’s energy market remains stable despite international uncertainties.