Federal Petroleum Minister Ali Pervaiz Malik has warned that petrol prices in Pakistan could rise to as much as Rs1,000 per litre if a shortage develops in the country.
Speaking to the media in Lahore, Malik said there is currently no petrol shortage in the country. However, he warned that prices may reach Rs1,000 per litre if a shortage occurs.
The federal minister said oil has become more expensive in Europe and the United States, while global oil prices have increased by 80 per cent. He claimed that Pakistan has increased petrol prices by only 50 per cent.
He said Prime Minister Shehbaz Sharif has “built a barrier” against further increases in petrol prices as a responsible premier.
Malik also said the government will ensure that consumers do not face gas shortages during the winter, even if it has to spend $100 million instead of $3 million on gas imports.
The minister said tokens worth Rs180 million were issued in a single day on Friday. He urged the Jamaat-e-Islami to refrain from using public hardships for political gains, saying the party’s delegation had already been informed about the challenges facing the government.
He added that work has begun on oil wells and that the government expected to discover oil by October.
The current petrol price in Pakistan is Rs389.14 per litre effective from September 19.