LAHORE: Pakistan is currently evaluating the option of importing more affordable oil and gas from Iran, announced Minister for Petroleum Ali Pervaiz Malik on Sunday. This move comes in the wake of improved relations between the United States and Iran, which have contributed to a stabilization of global energy markets and a decline in international oil prices.
Speaking at a press conference in Lahore, Malik highlighted that the cessation of hostilities between the US and Iran has brought peace to the region, resulting in a downward trend in petroleum prices worldwide. He emphasized that Pakistan is progressing in accordance with its international obligations while simultaneously exploring opportunities to secure discounted energy supplies from Iran.
In a significant development, Malik defended the government’s recent decisions regarding fuel pricing. He stated that Prime Minister Shehbaz Sharif’s administration has already passed on consumer relief that surpasses the reductions seen in global price benchmarks. The minister dismissed opposition claims accusing the government of withholding the full benefits of the price decreases, asserting that some groups are attempting to mislead the public about petroleum pricing.
Meanwhile, Malik praised the federal and provincial security measures implemented during the initial ten days of Muharram. He expressed gratitude towards the Pakistan Army and Punjab’s provincial leadership for their effective efforts in maintaining law and order during this period.
