Pakistan’s fuel reserves have surpassed four weeks, with authorities ensuring uninterrupted supplies through improved logistics and continued crude inflows despite regional disruptions.
“Earlier, stocks stood at 24 days, which increased to 28 days and have now exceeded four weeks,” Schehzad said while speaking on Geo News programme “Geo Pakistan” on Monday.
His remarks came a day after Deputy Prime Minister and Foreign Minister Senator Ishaq Dar announced that Iran has agreed to facilitate additional Pakistani vessels through the Strait of Hormuz, calling it a positive step towards peace and stability.
“I am pleased to share a great news that the Government of Iran has agreed to allow 20 more ships under the Pakistani flag to pass through the Strait of Hormuz; two ships will cross the Strait daily,” Dar said in a post on X.
Iranian threats to attack ships in the strait have kept most oil tankers from attempting the waterway. A few vessels have traversed the strait without issue, including ships under the flags of Pakistan and India, after Iranian assurances of safe passage.
So far, nearly 16 attacks have damaged at least 17 commercial ships since the war began, while around 1,900–2,000 vessels remain stranded in the region, according to Reuters.
In view of the ongoing crisis, the federal government, on March 6, announced a Rs55 per litre hike in the price of petrol and high-speed diesel each. However, it later froze petrol and diesel prices, allocating around Rs69 billion in subsidies to offset subsequent price revisions.
Speaking on the Geo News programme today, Schehzad added that crude oil inflows were continuing and being refined into petrol and diesel, further increasing stock cover. “Consider March and April fully covered; we are now looking ahead,” he said.
The adviser highlighted improved logistics, noting that Pakistan was receiving facilitation through the Strait of Hormuz. He said Iran — which has blocked the sea route for “enemy nations” — was allowing Pakistani oil shipments to move on priority, which would further strengthen fuel reserves and ensure timely supplies to refineries.
Schehzad maintained that despite limited resources, the country had avoided supply disruptions seen elsewhere. “Supplies are intact, in fact, they are improving… you stay worry-free, your stocks will not decrease,” he said.
On the fiscal side, he said the government was managing the burden of maintaining petroleum prices through expenditure cuts and austerity measures rather than calling it a subsidy. He pointed to reductions in development spending and a 20% cut in non-employee related expenditures to offset the impact.
He also outlined broader conservation steps, including reduced fuel usage by government departments, salary contributions by public officials, and work-from-home measures, saying these had collectively eased pressure.
Responding to questions on targeted relief and demand management, Schehzad said multiple strategies were under consideration but not immediately required, given the improving supply situation.
He stressed that continued cooperation between the government, provinces, and private sector would be key to managing the challenge, adding that Pakistan had so far handled the situation effectively and would continue to do so.
