Federal Petroleum Minister Ali Parvez Malik said, during a press conference in Lahore, that the return of calm to the Gulf region after the end of the Iranian-American conflict contributed to the decline in global oil prices.
Malik added: “We are studying the option of importing cheaper oil and gas from Iran,” stressing at the same time that the Pakistani government will continue to adhere to international agreements and pledges.
He pointed out that the authorities passed on to consumers discounts that exceed the size of the recent decline in global oil prices, stressing that if international prices continue to decline, local prices will decline accordingly.
Malik said that Prime Minister Shehbaz Sharif was keen for citizens to benefit quickly from the decline in global prices, accusing some parties of misleading public opinion regarding fuel prices.
During the height of the US-Iran war, the price of fuel in Pakistan reached 414 rupees per liter, before the price of gasoline fell to 300 rupees per liter now.
On the other hand, economic expert Mahmoud Rasool told PTI that most regions of Pakistan suffer from a severe gas shortage, noting that the government does not provide gas to consumers, especially in Punjab, except for limited hours per day.
The US exemption does not constitute a permanent lifting of sanctions, as they remain subject to renewal or termination depending on the course of negotiations between Washington and Tehran.
After the decision, calls rose inside Pakistan to take advantage of cheaper Iranian oil and gas for the benefit of citizens.
