PM Shehbaz took timely decisions to replenish country’s oil reserves: Attaullah Tarar

LAHORE, (UrduPoint / Pakistan Point News - 21st Mar, 2026) Federal Minister for Information and Broadcasting Attaullah Tarar has said that under the prevailing circumstances, Prime Minister Shehbaz Sharif had taken timely decisions to replenish the country’s oil reserves.

He said this while addressing a joint press conference along with Federal Minister for Petroleum Ali Pervaiz Malik here on Saturday.

Attaullah Tarar said that the prime minister had directed the Ministry of Petroleum in this regard, and the Minister for Petroleum, Ali Pervaiz Malik, along with his entire team, worked hard to avoid an oil shortage in the country.

He added that many countries in the region were following fuel rationing mechanisms.

However, by the grace of Allah Almighty, Prime Minister Shehbaz Sharif formed a committee and held daily review meetings, which ensured reasonable oil reserves in the country.

He further stated that oil cargoes for the future were also being arranged, as informed by the Petroleum Minister.

He said that the absence of a fuel shortage does not mean that resources should be misused. Available resources are very expensive, and Gulf oil prices are skyrocketing, having increased from $70 per barrel to $158 per barrel. Pakistan is also facing the impact of this rise in oil prices.

The minister said that oil prices in Pakistan are determined in line with international market prices.

He added that significant efforts were made to ensure that no additional burden was passed on to the public after the initial increase of Rs 55 in petrol price.

He said that austerity and simplicity would be adopted, and the government would try its best not to burden the people.

All the austerity measures announced by the Prime Minister are being implemented, he said.

The Information Minister said, "We are responsible for our respective ministries and are implementing austerity measures."

He urged the public to avoid unnecessary travel and adopt an oil conservation approach.

He emphasized promoting shared mobility, such as carpooling. Those who own more than one car should prefer vehicles with lower fuel consumption to reduce fuel usage.

He said that collective efforts are required under the current circumstances and that government measures have yielded positive results.

He mentioned that last week, a proposal was made to increase petrol prices by Rs 50 per liter and diesel by Rs 74 per litre.

However, the Prime Minister ensured savings by cutting the development budget, saving Rs 24 billion and protecting the public from additional burden.

He added that during the current week, when international oil prices increased again, a proposal was made to raise petrol prices by Rs 77 per litre and diesel by Rs 176 per litre.

Over the past two weeks, the federal government has provided Rs 69 billion in relief to avoid burdening the public.

He said there is a possibility of developing a mechanism under which the poor would benefit, while those who can afford it would bear more of the burden.

Attaullah Tarar said that the nation must unite and take measures to conserve oil.

Available oil should be treated as a valuable resource and must not be misused, he maintained.

He emphasized that Pakistan imports oil and must conserve foreign exchange, urging everyone to play their role.

He added that the entire nation must contribute to austerity measures and that future planning is necessary, especially as international oil prices may rise further due to ongoing circumstances in the region.

He said that although the situation is difficult, Prime Minister Shehbaz Sharif did not pass the burden onto the people during Eid-ul-Fitr.

He concluded that the Prime Minister, Deputy Prime Minister, the entire government, and the Field Marshal are committed to facilitating the people to the maximum extent.

Earlier,The Federal Minister for Petroleum, Ali Pervaiz Malik, said that the entire region was embroiled in conflicts.

He said that three weeks ago, crude oil prices in the Gulf were $70 per barrel, which increased to $170 per barrel, and stood at $160 per barrel on Friday.

He added that in a few weeks, oil prices had increased by more than two to three times.

He further said that diesel prices had also risen significantly.

Keeping in view this situation, the incumbent government under the leadership of Prime Minister Muhammad Shehbaz Sharif decided to slightly pass on the increased prices to the market.

He said a clear message had been given to refineries not to hesitate in purchasing expensive fuel in order to avoid fuel shortages.

He said the government’s first priority was to ensure the availability of fuel, while the Prime Minister also announced austerity measures to save funds. As a result of these measures, Rs 27 billion were allocated to a special fund.

This amount helped the government manage the impact of rising diesel and petrol prices.

To provide maximum relief to the public during Eid-ul-Fitr, the Prime Minister decided that the government would bear the burden of rising oil prices and keep petroleum product prices unchanged.

He said the government wanted people to show responsible behavior in fuel consumption and avoid unnecessary use of oil.

He added that the federal government would leave no stone unturned to provide relief to the people and would also consult provincial governments to arrange more resources.

Deputy Prime Minister Ishaq Dar arranged crude oil supplies for Pakistan after talks with the Saudi government.

He said Saudi Arabia was supplying crude oil to Pakistan through the Red Sea without interruption, while the UAE was supplying oil from Fujairah.

He concluded that, with the grace of Allah Almighty, Pakistan would overcome this difficult phase through its diplomatic strength and discipline.